[Chart] Bitcoin dominance due for a pull-back?

[bocyaj]

Dominance of bitcoin climbs and hits resistance and the fractals from the past would be taken into consideration. RSI, Dominance, and fractals combine together and I believe the correction will be massively and there will be blood on the market in next month. Blood days are used to celebrate new year on bitcoin market.

When blood appears on Bitcoin chart it will affect altcoin market and massacre will be seen. Massacre can be terrible with climb to all time high of bitcoin.

Nice to see all the technical indicators coming together but yes,,, I think the market is heating up a bit too crazily right now so the correction that is for sure coming will be quite painful for a lot of people. I guess most smart traders are now taking profit while holders like us just do nothing and wait. Massacre, then bull run.

Now we knew to hold with some patience.If you think, their won't be any bull run and it will dump for sure. You need sell your holding at some good price today.But long holding will make a good profit.People should not sell in hurry burry and miss the good chance of profit making.

[1714300379]

1714300379

[1714300379]

1714300379

[1714300379]

1714300379

[hd49728]

Now we newd to hold with some patience.If you think, their won't be any bull run and it will dump for sure. You need sell your holding at some good price today.But long holding will make a good profit.

Haha. So the point is what is the common thoughts of investors and traders on the market now? They believe in the continuous bull run and strong rallies for all and they don't believe in any soon corrections or pull backs. That is the point. Enjoy the ride if you have any cryptocurrencies are rising but be prepared to shake your hands.

Nice to see all the technical indicators coming together but yes,,, I think the market is heating up a bit too crazily right now so the correction that is for sure coming will be quite painful for a lot of people. I guess most smart traders are now taking profit while holders like us just do nothing and wait. Massacre, then bull run.

If you think that massacre will appear soon, why do you not take profit and wait for massacre to buy up back to increase amount of lovely cryptocurrency in your portfolio? Why not? You will get double benefit: don't be killed and eat up your profit by massacre and also have chance to increase your portfolio in amount and value.

[carlisle1]

We've seen Bitcoin dominance bounce back from 57% to 66% in recent weeks after being "oversold" in September (Altcoins overbought) during the DeFi craze.

I'm waiting to see the outcome of the current downwards sloping ressitance level that dominance has respected for over a year now, but otherwise expecting dominance to continuing moving lower towards 50% if there isn't a rebound to 70% and beyond. I'm mainly basing this off 2017 bull-market similarity.

After the Defi Pump Bitcoin starts claiming the dominance and yeah from 57% speed up to 66% but couple days ago while Ripple is climbing and staying strong together with Ethereum,Bitcoin Dominance fell down again to %61.2 though this is not bad as when the defi Bloom happen yet this paused the projection of making another ATH before this year ends.
But at least staying focus in $18,000 position things that tells us don't worry price is stable in good position.

[Entei]

Great analysis my friends but in the current market what we can expect is a support zone at 20K and if that happens we should change some analyzes knowing that the recoil zone is around $1000 more or less. We must also understand a little fundamental analysis and know that large institutions like Paypal are entering the market heavily and we know that Paypal has more than 25 million users.

[dragonvslinux]

Time to take some altcoin profit for the short-term, that 2x in XRP or XLM maybe? Dominance has wicked back down to 21 & 200 Week MA support. While the 21 Week MA is flat, as a reminder the 200 Week MA remains aggressively bearish. I'm anticipating a relief rally, dead cat bounce 2.0, back towards the the 50 Week MA and break-down level around 64%. This could coincide nicely with Bitcoin breaking $20K and having a subsequent pull-back, as investors & traders diversify further into altcoins.



On the Daily chart, today's candle is currently a doji after wicking down to the 200 Day MA after a golden cross with the 50 Day MA, similar to what we saw on the Weekly prior to trend reversal, indicating a bounce is likely. Imo, this isn't the time to be laddering further into altcoins, but taking partial profits if you're trading.

[aemma]

I think many altcoins will be on break for now, that is, the long anticipated altcoin season seems not to be happening anytime soon, because from all indications Bitcoin dominance is still high and the price is still trying to leave a new mark, this is all due to attention channelled to it for days now. Therefore at this juncture, I think Bitcoin dominance is not ready for any pull-back yet because investors seems to be taking more and more interest in it, this is duly seen in the way the Bitcoin price keeps going, that is, maintaining a good range of price. However, I also think it will make sense to be mindful of the altcoins we hold, since it is very clear top altcoins are the ones growing gradually and the rest still finding a good ground to kick off from.