BTC Dominance is Bullish (4H)

28 Mar

On the chart, we have consecutive trigger lines that have been broken, and after the SW L, we see a bullish iCH and higher Ls, which are bullish signals.

However, considering the Bitcoin dominance chart, buying altcoins or taking long positions on altcoins is risky. It is better to look for short setups on altcoins instead.

Targets are marked on the chart.

The closure of a 1-day candle below the invalidation level will invalidate this analysis.

For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You

2 Nis

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It has reached TP 1.

Our view on Bitcoin dominance was correct. The bullish Bitcoin dominance clearly indicated that Bitcoin was not suitable for sell/short positions.

We have added another TP on the chart, so now we have a total of 3 TPs.

There is a possibility of a rejection from TP 2, so we need to pay attention to these TP levels.

Let’s see what happens.