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 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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