Bitcoin Dominance Technical Analysis

[dragononcrypto]

On the Weekly chart, dominance is currently breaking out of the Weekly resistance trend-line, although there are still a few days to go until the candle close. Dominance remains at horizontal resistance, so am anticipating and hoping for a rejection here. The 50 & 100 Week MA's have now officially bear crossed as circled.

So far on the Weekly chart, Bitcoin dominance hasn't experienced rejection at current highs. Instead, last week closed at the highest level at 67% since May 2019, indicating strength in BTC dominance and therefore confirmed weakness in altcoin dominance. While I'm still anticipating rejection based on other factors, the VPVR point of control at 67.7% remains the last line in the sand before returning to 70% and heading higher.

The RSI otherwise remains bullish, the CMF has turned positive. Despite being at resistance, it's hard to overlook the bullish factors.



The Daily RSI has otherwise entered overbought conditions, but can remain here for some time as has been the case previously when dominance rose from around 60% to 67%.



It's therefore likely if Bitcoin finds it's dominance supported at higher levels, dominance can breakout to 75% ish. Either this, or it continues the longer-term bearish trend of the past 4 years, as well as broadening wedge descent towards the low 50s.

[dragononcrypto]

So far on the Weekly chart, Bitcoin dominance hasn't experienced rejection at current highs. Instead, last week closed at the highest level at 67% since May 2019, indicating strength in BTC dominance and therefore confirmed weakness in altcoin dominance.

In the past two days, dominance has broken through the resistance level around 67% and now tests the 70-72% resistance level.



At the same time the Daily RSI has broken out into overbought territory, so it's like to remain here for sometime:



I haven't completely ruled out an alt season despite the break-out from the long-term broadening wedge. However a break above previous 2019 high of 73% would confirm the altcoin market correcting considerably more than expected, with dominance likely returning to 80-90%:



The week is half over so dominance will need to face rejection in the coming days, otherwise may return bullish for sometime to come.

[Blue4]

Today bitcoin domination is 61.1% for the past few weeks bitcoin domination is decreasing step by step so some potential altcoins has started to recover example polkadot, Ada, link ,uni etc I think this year bitcoin domination will go down again because ethereum is more strong now , ethereum is more strong in BTC pair market so suddenly ethereum will go to the moon.

[Ransow]

In the past 24 hours bitcoin domination is increased you can see that in the cryptomarket so altcoins domination going down again now bitcoin diamond domination is 62.2% but there is chance this week this domination go to 65% bitcoin already breaked $50k zone.