Bitcoin Dominance Rate Struggles to Stay Above 60%

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In Brief
  • The BTCD has bounced back up towards 62.80%.

  • There is significant bullish divergence in both the RSI and the MACD.

  • The rate is trading inside a short-term descending wedge.

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The Bitcoin Dominance Rate (BTCD) has been on a correction course since May. It's now beginning to show bullish reversal signs, and could soon initiate an upward move. Bitcoin Dominance Divergence At the beginning of August, the Bitcoin dominance rate fell below the long-term 62.80% support area and validated it as resistance. After that, however, it dropped back down to reach a local

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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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