Alt Season or No Alt Season? Bitcoin Dominance Paves The Way

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In Brief
  • The Bitcoin dominance rate has been following a descending resistance line since May 14

  • The rate is trading inside a short-term symmetrical triangle and has fallen below the 200-hour MA.

  • BTCD and the Bitcoin price are positively correlated.

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The Bitcoin dominance rate (BTCD) is decreasing alongside a descending resistance line from May 14. The price made an attempt to break out in the early hours of June 9 but was swiftly rejected and has fallen back since. Resistance Holding Strong BTCD is following a descending resistance line formed from May 14. Yesterday, the rate briefly touched the line for the fourth time but was
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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