Simple Conditions for Alts to Continue Moving vs BTC
Very simple chart and conditions for altcoins to gain or lose dominance vs Bitcoin in the present market:
Others dominance needs to hold above ~9.15% and break and then hold above ~10.5%. Do that and it'll keep gaining dominance towards ~12-13%
Lose 9.15% and fail to reclaim it a 3rd time and alts will continue losing market dominance vs Bitcoin, heading down towards ~7.5-8%
I like to think there is a good chance we at least test the area above 10.5% seeing as we failed to remain below 9.15 after two attempts, the 2nd with a higher low. Failed breakdowns often tend to lead towards breakouts or at least breakout attempts (and vice versa)
That said, we may still yet test 9.15 or below one more time and... if we do, we'd want to see another higher or at least a same low and then a recovery of 9.15 if lost for it to head back up towards 10.5.
Some very roughly drawn possible paths are shown on the chart.
Best of luck!
Others dominance needs to hold above ~9.15% and break and then hold above ~10.5%. Do that and it'll keep gaining dominance towards ~12-13%
Lose 9.15% and fail to reclaim it a 3rd time and alts will continue losing market dominance vs Bitcoin, heading down towards ~7.5-8%
I like to think there is a good chance we at least test the area above 10.5% seeing as we failed to remain below 9.15 after two attempts, the 2nd with a higher low. Failed breakdowns often tend to lead towards breakouts or at least breakout attempts (and vice versa)
That said, we may still yet test 9.15 or below one more time and... if we do, we'd want to see another higher or at least a same low and then a recovery of 9.15 if lost for it to head back up towards 10.5.
Some very roughly drawn possible paths are shown on the chart.
Best of luck!
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