The crypto market has been attached to the US S&P 500 stock market recently due to big investors and big institutions from the US We pretend to be decentralized and have freedom of money but indeed they have taken control of the market and this is very bad
this is the meaning of Bitcoin dominance chart its Bitcoin price compared to other alt coins like ETH , BNB look at the below both charts you will understand how much Bitcoin dominance increased
and by default when ETH price is decline compared to Bitcoin this means also most of alt coins which built on Etherium network will follow and so on
#BTCDOMUSDT is rising slowly and steady when the market turns Red BTCDOMUSDT will be green if you go Long on BTCDOMUSDT this means that you are going short on ALT coins
follow the economic calendar and avoid trading during the volatile times don't blame that crypto is a scam after ignoring the volatility and as an advice the next days will be volatile do your own research
Always look at the Bitcoin Dominance chart if it increases the ALT coins will bleed more even if Bitcoin rises I always open a long position in BTCDOMUSDT in the 3800 to 3600 range is a good level to go long TP levels above 4200
Not financial advice - always do your own research
I know it's hard to save money for buying the dip and sometimes you think the bottom has been reached, but if you make an analysis on large-scale charts weekly and monthly you will know that the bottom is still yet to come
If you see the weekly chart you will realize that the dip is coming and this is normal after a Big rally I was waiting for this moment to buy ALT coins and im prepared this is the power of believing in your analysis
The only coin that I can say is overpriced $BTC other coins are at a good discount, I can't imagine what if Bitcoin reaches 70k again ALT coins will die
How the market makers decide to pump the market by buying, without taking profit first the market was overpriced Already in a short time correction is very healthy to rise more