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 discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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