Greetings colleagues, on this wonderful Sunday, I offer you to take a look at the $BTC.D domination chart 🔎
For beginners:
Bitcoin's dominance shows its share relative to the total crypto market capitalization⚡
➡ Without understanding what is happening on $BTC.D there is nothing to do in the other market, because it indicate you what is now in priority - $BTC💲 or alts
When the dominance falls 👉 it means that liquidity (money💰 flow) is moving from Bitcoin to alts. The last such large drop of $BTC.D (from 65.2% to 61.9%) was on May 7-10, when we saw active growt📈 of alts.
Then the dominance reversed from the weekly imbalance at 62.2% and the support zone (Bullish Orderblock) and the growth of alts slowed down. But now $BTC.D has reached the supply zone at 64.27%-65.38% and almost full-filled the similar 1W Imbalance on the other side. I expect the reversal⬇️ to start in this zone!
➡ It's the reason why the next few weeks we should focus on altcoins instead of $BTC and $ETH!
