Markets Technical Analysis

Bitcoin Dominance Rate Struggles to Stay Above 60%

By Valdrin Tahiri
Updated by Ryan Smith
Share Article
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.

  • promo

    Want to learn how to trade? Get a beginners guide from _BeInCrypto Academy_ now!

The Trust Project is an international consortium of news organizations building standards of transparency.
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
×

BeInCrypto Premium - Register for FREE now.

Register Now!

BeInCrypto Premium - Register for FREE now.

Upgrade to continue reading

Register Now!
Share Article

Related topics

Valdrin Tahiri

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.

Follow Author

More Articles

RELATED NEWS

Daily signals, Bitcoin analytics and traders chat. Join our Telegram today!

Let’s Go

A step-by-step guide how to trade Bitcoin profitably

Learn now