If This Happens For BTC Dominance, Shakeout Is Cancelled

Hello, Skyrexians!

As you remember we have the previous analysis on Bitcoin Dominance where we pointed out the target at 66% and the shakeout. But we were sure that it will happen in the upcoming week, but Dominance retraced again below 61% and current wave doesn’t look like the wave 5. This move increased probability of more positive scenario for altcoins.

Let’s take a look at 12h time frame. We can see that candles were able only to touch the 62.5% and then retested the recent low. It gives us an idea that the probability that this is wave 5 decreased. Here we have two scenarios. The first one is that we are in wave 4, which is more complicated that we supposed and candles will finally reach 66%.

But the second scenario now has even more than 50% probability. This pump could be already shortened wave 5. Unfortunately, Bullish/Bearish Reversal Bar Indicator [Skyrexio] can’t catch such waves, but Awesome Oscillator tells us that wave 4 has been finished and we can see the divergence, which could already happened if dominance touch 66%. Now AO is reversing and this is the sign that this impulse to the upside will not continue. The clear breakdown of 60% will confirm this idea.

Best regards,
Skyrexio Team

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Hello, Skyrexians! Some of you may be remember my article which I shared more than 1 year ago where called LDO the worst asset and it dumped exactly as predicted.

Hello, Skyrexians! I tried multiple times to understand what is happening on ADA chart. The Elliott waves analysis was too complicated and I didn’t share anything, but today I found

Hello, Skyrexians! On yesterday’s crypto pump SUI was the greatest performer and people started to have an interest in this coin will continue growing or this is just a bull

Hello, Skyrexians! Time to update our main chart BTC.D and today we will take a look at 4h time frame to make sure that everything is going according our global

Hello, Skyrexians! We hope you remember our previous BTC analysis where we told you that Bitcoin will not go significantly lower than $77k. Now price is already at $85k and people now can’t understand

Hello, Skyrexians! It’s time to update SOL analysis. We have already told about Solana dump when price was next to $300 where told about $110 and as usual did not