The Bitcoin Dominance Rate Gets Rejected at Long-Term Resistance

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In Brief
  • The Bitcoin dominance rate has fallen below a long-term support level at 62%.

  • BTCD is following a descending resistance line.

  • The rate is likely to continue its downward trend.

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The Bitcoin dominance rate (BTCD) has broken down from a long-term support area and is in the process of validating it as resistance. Unless it successfully reclaims this level, the trend is bearish. Long-Term Breakdown The BTCD has been declining since September 2019, when it reached a high of 73.02%. Since then, it has been following a descending resistance line. The fall was
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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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