Is the Bitcoin Dominance Rate About to Fall Off?

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In Brief
  • The Bitcoin dominance rate has broken down from a long-term ascending support line.

  • A death cross has transpired on the daily time-frame.

  • BTCD has a positive correlation with the Bitcoin price.

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The Bitcoin dominance rate (BTCD) has broken down from a long-term ascending support line and faces considerable overhead resistance. While a short-term relief rally could occur, BTCD is expected to eventually continue its longer-term descent. Support Line Breakdown On June 23, the Bitcoin dominance rate (BTCD) broke down from an ascending support line that had been in place since Feb
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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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