Making Sense Of Bitcoin’s Rising Dominance Rate

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In Brief
  • BTCD has broken down from a long-term ascending support line.

  • It is facing strong resistance at 66.5%.

  • Ethereum has created a double-top combined with bearish divergence.

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The Bitcoin dominance rate (BTCD) is currently trading inside a crucial resistance area, a rejection from which could trigger an accelerated move down. Similarly, Ethereum has created a bearish pattern inside a strong resistance area, forewarning of a similar decrease. Bitcoin Dominance Rate The daily chart provides a bearish picture for the BTCD. It broke down from a long-term

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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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