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BITCOIN DOMINANCE (BTC.D) – Daily Chart
The daily Bitcoin dominance (BTC.D) chart could potentially be signaling a massive altcoin bull run: the chart is showing us that the 20 Moving Average (green line), is crossing the 50 DAY Moving Average (red line) to the downside.
Going back eight months, there have been two previous times, in August and November 2021, where the 20MA has crossed the 50MA to the downside, each resulting in a massive drop of the Bitcoin dominance (white line) which saw the altcoin market outperforming BTC.
The chart is now telling us that we might be about to enter altcoin season, with some potentially massive gains coming in some of the alts.
You can find all of Sheldon’s entries, take-profit zones, key support, and resistance areas by signing up to CoinPanel, where over 30 unique charts are regularly updated with all the key levels to watch out for.
