Bitcoin dominance Feb 28th 2021.

Bitcoin Dominance about to collapse?

By rees18 | Simon Rees | 28 Feb 2021


Bitcoin dominanceThe real alt coin season is about to happen folks. Bitcoin dominance already broke the trend line holding it up, evident on 4 and 8 hour time frames. We came back up for a retest and as we speak dumping down.

If in doubt keep an eye on the monthly TF, so long as we are below the monthly 21 exponential alt coins are the way forward in my opinion.

The coming week should see a test down to 60% and beyond. 

Also consider that Ethereum is looking like one of the least bullish of alt coins yet makes up a huge portion of the alt coin market. I'm HUGELY bullish on alt coins not named Ethereum.

Compare this cycle to the previous one a few years ago when there were hardly any legitimate alt coin projects around. Now we have so many! So much potential. Yet bitcoin STILL dominates crypto. This won't last for long.

 

 

Update:

March 1st. Monthly bearish divergence on RSI confirmed. Still bearish!

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Simon Rees
Simon Rees

A mix of fundamentals and technical analysis

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