A Detailed Look at the Bitcoin Dominance Rate

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In Brief
  • The Bitcoin dominance rate has completed a double bottom pattern

  • There is a very important resistance area at 66.5%

  • Currently, BTC price increases are causing a drop in BTCD and vice-versa.

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The Bitcoin dominance rate (BTCD) has broken down from a long-term rising support line. Unless it successfully reclaims the 66.5% resistance area, the trend remains bearish. Double Bottom The Bitcoin dominance rate has been gradually increasing since June 24. The rate of increase accelerated on June 27, reaching a high of 66.49%. However, the price has been decreasing since, following
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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