• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin dominance
Nexo Logo

After Parabolic Rally, Altcoins May Soon Retrace Against Bitcoin: Indicator

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news, Technical analysis
Reading Time: 3 mins read
Advertisement

Bitcoin dominance has been plummeting recently letting altcoins have their time in the crypto market spotlight for a change. But as altcoins begin to correct, BTC dominance is signaling that the asset is about to recover from the altcoin market’s rally against it.

What does this mean for Bitcoin, and how will certain altcoins withstand the coming blow to their market share from BTC dominance?

BTC Dominance Signals Buy, Potential Bull Flag Formation Could Wreck Alts

BTC dominance is a metric that weighs the first-ever cryptocurrency against the rest of the market. Because it started off the entire industry and has first-mover advantage, it commands the lion’s share of market capitalization.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Currently, Bitcoin’s dominance rests somewhere near 62%, after setting a high last year in September at 73%.

Related Reading | How Crypto Market Fear And Greed Be Used Profitably As A Trade Trigger

The rise to 73% in 2019 crushed altcoins, taking many of them down to as much as 90% or less on their BTC ratios. Prior to that, however, altcoins ballooned during the peak crypto bubble, where BTC dominance fell to as low as 35%.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Lately, altcoins have finally been recovering against the first-ever cryptocurrency, thanks largely due to the unstoppable DeFi trend and Chainlink setting new all-time highs.

But any altcoin season taking place across the crypto space over the last several weeks could very well be coming to an end already.

btc d bitcoin dominance tq sequential

BTC Dominance Weekly TD Sequential 9 Buy Setup | Source: TradingView

According to the TD Sequential indicator on weekly timeframes, BTC.D has triggered a 9 “buy” signal. Coinciding with the signal on Bitcoin dominance, are sell setups on top altcoins like Ethereum, Chainlink, and Cardano.

Higher timeframe signals are given more weight in technical analysis, suggesting that any recent gains could soon reverse if the signal confirms.

Are Altcoins About To Get Crushed By Bitcoin’s Big Breakout?

Altcoins that have suffered extreme devastation, dropping to as low as 99% from their former all-time highs, may be in for a lot more carnage.

BTC dominance hasn’t just triggered a 9 “buy” setup on weekly price charts, the setup is taking place at the bottom trend line of what appears to be a massive bull flag on BTC.D price charts.

btc d bitcoin dominance bull flags

BTC Dominance Weekly Bull Flag Chart Pattern | Source: TradingView

The bull flag mimics the previous multi-year consolidation pattern, which resulted in a break to the upside in 2019 and altcoins collapsing. It also had a similar 9 “buy” setup on the TD sequential, pictured above.

If the 9 setup on weekly BTC.D charts plays out the same way, the leading cryptocurrency by market cap will end up commanding as much as 85% of the total cryptocurrency market.

Related Reading | How Lengthening Bitcoin Cycles Conflict With Halving Driven Supply Theories

Altcoins would take an enormous dive lower on BTC ratios. How they perform in USD trading pairs will depend heavily on Bitcoin. If altcoin valuations remain the same, and Bitcoin runs, the same dominance effect would result.

It’s for that very reason, some analysts argue that it is not a very reliable chart to analyze. If it does prove reliable in this case, altcoin season isn’t just over, the alternative crypto assets are about to get crushed.

Tags: adabtcaltcoinsbitcoinbitcoin dominancebtcbtc dominancebtc.dbtcusdBTCUSDTchainlinkcryptoDeFiethbtcethereumethusdETHUSDTLINKBTCLINKUSDxbtxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin on-chain metrics

Bitcoin On-Chain Activity Throttled After LUNA Collapse

2 hours ago
Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

3 hours ago
Bitcoin

Bitcoin Trading Volume Plummets Down From Recent Top

6 hours ago
Bitcoin

Bitcoin Sets Record Streak For Bloodliest Weekly Trend yet

7 hours ago
JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

8 hours ago
Extreme fear

Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Chronoly (CRNO) Takes Number 1 Spot at Project To Invest In 2022 Over Fantom (FTM) and Anchor Protocol (ANC)

May 25, 2022

Pancakeswap to Start Listing Metallika token (METALLIKA)

May 25, 2022

Ariva celebrates 1st year anniversary with impressive achievements in the blockchain industry

May 25, 2022

LBank Exchange Will List Globiance Exchange Token (GBEX) on May 25, 2022

May 25, 2022

LBank and Adanian Labs Powers Hackathons, Blockchain Education, and Ecosystem Development for Africa

May 25, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.