As Bitcoin Decreases, Its Dominance Rate Moves Upward

Updated by Ryan Smith
In Brief
  • The Bitcoin dominance rate is facing strong resistance at 66.5%, strengthened by numerous daily moving averages.
  • The rate is possibly trading inside a symmetrical triangle, nearing the end of the pattern.
  • The Bitcoin price has found support above the 600-hour MA and the $9450 support area.
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On June 11, the Bitcoin price was rejected by the $10,000 resistance area and has been decreasing since, briefly falling below $9,500. Interestingly enough, this decrease in Bitcoin price has caused a slight increase in the Bitcoin dominance rate. The Bitcoin dominance rate (BTCD) is trading at a very important level, currently right at the rising support line that has been in place
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