Tradingview: BTC and Dominance Chart Review, Chart Published By Philosof !

khalil319 (54)in #bitcoin • 4 years ago

Bitcoin chart review (Update)

Bitcoin Chart Published By Philosof

https://www.tradingview.com/u/Philosof/

Comment : Market doesn't provide a single hint on its next direction. All charts are forming a narrow channel that says, that soon we will see some sharp move. Will it be today or on Monday, impossible to say. Indicators are oversold, so that is 1 point for bullish move. Bear flag is 1 point for another dump. Be careful with leverage trading - I see a lot of questions to exchanges about not realized short positions - "deleveraged" and closed with wiped out balance, while they should have brought trader huge profits instead. Very strange. So you can get REKT even if you trade in the right direction.

Resistance: 5650 - 6450 - 7150 - 7550 - 8400
Support: 5250 - 4130 - 3750 - 3400

Fear & Greed index: 12 (<= 8 <= 10 <= 14 <= 17 <= 16)
BTC Dominance: 63.7% (<= 63.8 <= 64.1 <= 65.6 <= 64.3)
⚙️ 24h Volume: $109 billion (<= 178 <= 264 <= 145 <= 135)

BTC dominance is in global downtrend, but with local signs of growing back up. At day timeframe 200 EMA is at ~66.66, If it will grow above, that will be alts second death in a row.

#BTC #Dominance #Bitcoin

check this post