Bitcoin Dominance Rate Rises Sharply! What Does It Mean?

Bitcoin Dominance Rate (BTCD) well Bitcoin dominance rate, It broke out of the decreasing resistance line that has been going on for about a year and rose sharply.

In January 2022, BTC dominance bounced off after testing the 40% level for the 3rd time. This jump has paved the way for a rise up to 45% so far. If the upward movement for dominance continues, the closest resistance areas are 47.7% and 48.8%.

On the other hand, in the dominance graph It is seen that the RSI indicator has also risen above 70. Generally, it is more likely to see a pullback in price after the RSI rate that goes up to these levels.

BTC Domination Chart

Especially when looking at the chart, it is seen that the falling channel line is working as a resistance again. If this resistance is passed and an increase up to 50 percent is seen, then there may be more depreciation of altcoins.

Because BTC dominance is a ratio that shows what percentage of the total money in the market is in Bitcoin. As this ratio increases, altcoins decrease, while a decrease in this ratio indicates that money flows to altcoins, so prices increase.

For this reason, it is extremely important for altcoin investors to follow the Bitcoin dominance graph, which has reached the critical resistance level.

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