 | BTC.D is once again approaching the 200 week EMA again and is likely to get rejected, like it has ever single time it has tried to break above it during its lifespan. There is also bearish divergence in the week RSI -while the dominance trends higher, the RSI is still in a downtrend. Also, RSI is ~64 which was the exact same level BTC dominance was rejected around this time during the last BTC pre-halving year (2019) after it tried a second time to break above the 200 week EMA. I am continuing to DCA my BTC back into ETH and other top 15 alts at these levels. If there is a break above 52%, I expect it to be short lived, with a strong chance it closes back below the 200 Week EMA. *BTC dominance dropping does not necessarily mean the price of BTC/USD dropping, it just means that alts will gain some ground back from BTC in the coming months. [link] [comments] |
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