Today we discussed about the possible BTC price action based on simple technical analysis.
However, I believe that technical analysis along has no significance at all in Crypto Markets as it is a heavily influenced and manipulated markets in the world if not "the" most manipulated.
Therefore, in order not to be blindsided we need broader market analysis methods as discusses on Kaalama DeepDive (KDD). One tool we use in KDD is the bitcoin dominance chart which is a very popular tool.
As you can see, in the attached, BTC.D is in a clear down trend and appeared to hit the recent resistance levels soon. It is a clear sign that crypto whales are finishing their accumulation cycle and now allowing Altcoins to move up again.
I consider it as a serious bullish sign.
Not financial Advice, but analysis only.
More insight to the Crypto Market: https://kaalama.org/Kaalama-De....epDive-Crypto-Whale-
#btc #crypto #cryptocurrency #bitcoin