Alcoins (OTHERS/USD) Dominance - One Year of Bullish Trend - Caution Alcoins

작년

Alcoins dominance today is touching the support line to the upside, breaking it would not be a good sign for Alcoins

Today I bring you this analysis on the dominance of Alcoins, which was not updated for months since it has been a little more than a year that comes in an upward trend without changes.

Let's see

Captura de pantalla 2020-09-19 a las 11.41.41 a.m..png

What has happened to bitcoin these weeks

Bitcoin has corrected two weeks ago, but the alcohols more. But if we analyze the Dominance of Bitcoin, it has formed a Double Bottom and has started to rise. But to the alcoin with few exceptions no.

Captura de pantalla 2020-09-16 a las 10.38.09 a.m..png

As we see in the dominance chart while Bitcoin has started an upward cycle, the dominance of alcohols has remained above the support line.

If we analyze in the past we see that there are periods when investors take liquidity from alcohols to increase the price of Bitcoin, that is why the dominance of alcohols decreases

Captura de pantalla 2020-09-19 a las 11.41.56 a.m..png

Analyzing the chart we see a break from the support line of Alcoins dominance, a retest to the trend line, and a period to the downside.

Possibilities

Upward

Captura de pantalla 2020-09-19 a las 11.50.21 a.m..png

We could see that the dominance of Alcoins continues along its current trend line, revaluing the price of alcohol.

Down

Captura de pantalla 2020-09-19 a las 11.48.16 a.m..png

We could see that the dominance of Alcoins break the trend line and retest the line to start a correction.

These periods of rise in the price of Bitcoin, encourage the entry of new capital to the crypto market or are periods of profit taking, which then enhance the increase in alcohol, they are cycles that are repeated throughout the history of the crypto market.

What you think?

Remember to give your post a vote, Always support good content. Thanks

Follow me it costs you nothing and you get a Healing Reward with Your Vote

bitcoin-imagen.jpg

Protect your assets use Stop loss

The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.

We will continue monitoring
To be attentive
Protect your Investments

Lately I have noticed that there is no good analysis on steem, everything takes time, I ask that as you read them leave your vote, it is a way to encourage you to continue making more reports, thanks.

Feel free to use and share my post or graphics, but please mention, @criptoar as the author. Otherwise, consider plagiarism and I will call you and advise my friends to do the same.

READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.

Captura de pantalla 2020-05-09 a las 11.59.54 a.m..png

Vote for the post.
Always support good content.
Follow me it costs you nothing and you get a Healing Reward with Your Vote

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT