Alt Season or No Alt Season? Bitcoin Dominance Paves The Way

Updated by Ryan Smith
In Brief
  • The Bitcoin dominance rate has been following a descending resistance line since May 14
  • The rate is trading inside a short-term symmetrical triangle and has fallen below the 200-hour MA.
  • BTCD and the Bitcoin price are positively correlated.
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The Bitcoin dominance rate (BTCD) is decreasing alongside a descending resistance line from May 14. The price made an attempt to break out in the early hours of June 9 but was swiftly rejected and has fallen back since. Resistance Holding Strong BTCD is following a descending resistance line formed from May 14. Yesterday, the rate briefly touched the line for the fourth time but was
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