Bitcoin Dominance Daily Chart Analysis

Timeframe: Daily

We’ve bounced back from the drop of the past few hours and climbed. We also are trading above the 61.18 resistance, but nothing strong of a continuation. It is now entering a period of consolidation between 60.14 and 62.23 with limited range.

❓ Why is this an emasculating sign of weakness?

Because, even thought its reclaimed the drop, there has been no strong bullish move and in fact had to consolidate.

📉 Key Level to Watch:

If the market still has a bullish sentiment, a drop below 60.14 could provide a good long opportunity on Altcoins.

⚠️ Reminder:

This is just my opinion. — And manage that risk to protect your capital!

Thanks for reading! Let me know your thoughts. 🙌

Structure drives. Emotions mislead. Stay with the flow.

Crypto lover👀🔥
Funded Trader📈
/lp

thank you for sharing your 

Personally speaking, I feel there is more of a chance that we see a drop rather than a push to the upside. But we would have to invalidate this view with a daily close above the 62% dominance level.

Great analysis my friend! Do you think resistance will break or a correction is more likely?