Markets Technical Analysis

The Bitcoin Dominance Rate Finally Breaks Out

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The Bitcoin dominance rate has broken out from a long-term descending resistance line.

  • It is facing resistance at 66.5% and 68%.

  • BTCD is following a long-term ascending support line.

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The Bitcoin dominance rate (BTCD) has been decreasing since May 14, but recently broke out from a long-term descending resistance line, indicating that an upward trend has begun. This means that altcoin and Bitcoin pairs are likely to decrease. Resistance Breakout The Bitcoin dominance rate reached a high of 69.14% on May 14 and has been decreasing with a relatively steep slope since
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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.

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