Репост из: Crypto Kings™
📌The crypto market is at what may be its most important moment yet. Bitcoin is at weekly resistance – and its the only thing separating Bitcoin price from reclaiming the previous all-time high of $20,000. Meanwhile, the rally has caused Bitcoin dominance to spike, and if it continues to rise in such a fashion, potentially possibly it could reach an extended “5th wave” and take it to as much as 80% dominance.
📌Bitcoin is currently priced at $12,390 according to coinmarketcap, after ping-ponging between $10,000 where FOMO first began, and the powerful resistance at $13,800 that rejected Bitcoin’s parabolic climb from the December 2018 bottom at $3,200.
📌Along the way in April, when Bitcoin rallied $1,000 in a matter of hours, altcoins began to diverge causing BTC dominance to climb from previous lows. Once it claimed 60% as support, the altcoin market has shown signs that a capitulation event like what was seen with Bitcoin back in November when it fell through support at $6,000.
📌The market regularly shows that Bitcoin maximalism might be the healthiest strategy for investors, and until altcoins capitulate and finally put in their low, they are likely going to continue to vastly underperform Bitcoin in the coming months, especially if BTC dominance pulls this extended 5th wave, which according to Elliott Wave Theory would suggest more upside before the trend begins to correct.
✅More useful and relevant information you can get in our premium group. If you want to join our premium group then write me. ✉️CONTACT @cryptokings5
📌Bitcoin is currently priced at $12,390 according to coinmarketcap, after ping-ponging between $10,000 where FOMO first began, and the powerful resistance at $13,800 that rejected Bitcoin’s parabolic climb from the December 2018 bottom at $3,200.
📌Along the way in April, when Bitcoin rallied $1,000 in a matter of hours, altcoins began to diverge causing BTC dominance to climb from previous lows. Once it claimed 60% as support, the altcoin market has shown signs that a capitulation event like what was seen with Bitcoin back in November when it fell through support at $6,000.
📌The market regularly shows that Bitcoin maximalism might be the healthiest strategy for investors, and until altcoins capitulate and finally put in their low, they are likely going to continue to vastly underperform Bitcoin in the coming months, especially if BTC dominance pulls this extended 5th wave, which according to Elliott Wave Theory would suggest more upside before the trend begins to correct.
✅More useful and relevant information you can get in our premium group. If you want to join our premium group then write me. ✉️CONTACT @cryptokings5