📊 Bitcoin Dominance: Don't Be Fooled by the Recent Uptick 🚨
- Bitcoin dominance has been confusing investors lately, but it might be looking better than you think 🤔
- Despite breaking structure in a positive way for alts, it's been going down, back up higher than expected, and now down again 📊
📈 Market Structure:
- _Invisible Lines:_ Support lines and trendlines are invisible lines that we draw ourselves to highlight structural breaks and changes in trend or momentum 🔍
- _Not Absolute:_ These lines are not absolute and can be broken or retested in various ways 📊
📊 Bitcoin Dominance Analysis:
- _Strong Tumble:_ Bitcoin dominance took a strong tumble last month, leading to confusion among investors 📉
- _Retest:_ The recent uptick in Bitcoin dominance was seen as a retest of the higher trendline, but it did not respect it as a retest 📊
- _Area of Origin:_ However, it did retest its area of origin, the supply area it left behind or order block 📈
🚨 Warning:
- _Don't Count Out Bitcoin Dominance:_ Don't count out Bitcoin dominance breaking down just because it retraced a little last week 🚨
- _Retail Traps:_ Don't fall for retail traps, and keep an eye on the bigger picture 📊
🔮 Conclusion:
- Bitcoin dominance might be looking better than you think, despite the recent uptick 🤔
- Keep an eye on the market structure and don't fall for retail traps 📊
#BinanceAlphaAlert #GrayscaleHorizenTrust #MarketRebound #BinanceLabsBacksUsual #Write2Earn