{"id":507252,"date":"2022-10-20T20:16:04","date_gmt":"2022-10-20T20:16:04","guid":{"rendered":"https:\/\/wncen.com\/?p=507252"},"modified":"2024-06-11T08:00:47","modified_gmt":"2024-06-11T08:00:47","slug":"bitcoin-dominance-crypto-btc-d-analysis-october-20-2022","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-dominance-crypto-btc-d-analysis-october-20-2022\/","title":{"rendered":"Bitcoin Dominance To Regain Control Over Crypto? | BTC.D Analysis October 20, 2022"},"content":{"rendered":"
In this episode of NewsBTC’s daily technical analysis videos,\u00a0we are analyzing Bitcoin dominance<\/a> (BTC.D) and how the top cryptocurrency might perform in the near term against altcoins.<\/p>\n Take a look at the video below:<\/p>\n In addition to the video highlights listed below the video, we also analyze BTC.D using the Ichimoku, Average Directional Index, LMACD, and other technical tools.<\/p>\n On daily timeframes, BTC.D is taking a short pause, but is mostly still bullish according to price action and technical indicators. Dominance is above the Tenkan-sen and Kijun-sen on the Ichimoku, while flipped bullish on the LMACD. The Average Directional Index<\/a> at the bottom shows that trend strength is weakening on daily timeframes and bulls have the upper hand<\/span><\/p>\n <\/p>\n Related Reading: Bitcoin Price Action Falls Flat | BTCUSD Analysis October 18, 2022<\/a><\/p>\n On weekly timeframes using the same tools, we can see that dominance has only just turned bullish against altcoins, and the Average Directional Index is hinting that this trend could soon strengthen. On the Ichimoku<\/a>, dominance is above the Tenkan-sen, but not the Kijun-sen, making it the next logical target.<\/span><\/p>\n Moving to monthly timeframes, Bitcoin dominance is also bullish against alts on the LMACD, and the ADX shows that altcoin season could be cooling off for some time. The Ichimoku isn\u2019t very telling, but much like weekly timeframes, the Kijun-sen above could make for a possible next target.<\/span><\/p>\n <\/p>\n Related Reading: A Bullish Week In Bitcoin On The Way? BTCUSD Analysis October 17, 2022<\/a><\/p>\n<\/div>\n Additional trend line TA shows that BTC dominance possibly retested the neckline of a years old inverse head and shoulders pattern<\/a>, which includes the early 2018 alt season peak that came shortly after Bitcoin topped in December 2017 at $20,000. Shockingly, Bitcoin is trading below that level some five years later. <\/span><\/p>\n If Bitcoin dominance does reverse hard against altcoins, the line in the sand to watch for is around 52% dominance. Above there would trigger the first ever monthly buy signal of Bitcoin against altcoins.\u00a0<\/span><\/p>\n <\/span><\/p>\n Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here<\/a> to access the free educational program.<\/p>\n Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or join\u00a0<\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a> for exclusive daily market insights and technical analysis education<\/i><\/b>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n In this episode of NewsBTC’s daily technical analysis videos,\u00a0we are analyzing Bitcoin dominance (BTC.D) and how the top cryptocurrency might perform in the near term against altcoins. Take a look at the video below: VIDEO: Bitcoin Dominance Versus Altcoins (BTC.D): October 20, 2022 In addition to the video highlights listed below the video, we also analyze BTC.D using the Ichimoku, Average Directional Index, LMACD, and other technical tools. Related Reading: Is The Final Wave In Ethereum Up Next? | ETHUSD Analysis October 19, 2022 Bitcoin Outperforms Altcoins During Sideways Phase On daily timeframes, BTC.D is taking a short pause, but is mostly still bullish according to price action and technical indicators. Dominance is above the Tenkan-sen and Kijun-sen on the Ichimoku, while flipped bullish on the LMACD. The Average Directional Index at the bottom shows that trend strength is weakening on daily timeframes and bulls have the upper hand Bitcoin is has been outperforming altcoins | Source: ETHUSD on TradingView.com Related Reading: Bitcoin Price Action Falls Flat | BTCUSD Analysis October 18, 2022 Why Altcoin Season Could Be Over For Some Time On weekly timeframes using the same tools, we can see that dominance has only just turned bullish against altcoins, and the Average Directional Index is hinting that this trend could soon strengthen. On the Ichimoku, dominance is above the Tenkan-sen, but not the Kijun-sen, making it the next logical target. Moving to monthly timeframes, Bitcoin dominance is also bullish against alts on the LMACD, and the ADX shows that altcoin season could be cooling off for some time. The Ichimoku isn\u2019t very telling, but much like weekly timeframes, the Kijun-sen above could make for a possible next target. But the trend could just be beginning | Source: ETHUSD on TradingView.com Related Reading: A Bullish Week In Bitcoin On The Way? BTCUSD Analysis October 17, 2022 Can Alts Hold Onto 50% Of Crypto Dominance? Additional trend line TA shows that BTC dominance possibly retested the neckline of a years old inverse head and shoulders pattern, which includes the early 2018 alt season peak that came shortly after Bitcoin topped in December 2017 at $20,000. Shockingly, Bitcoin is trading below that level some five years later. If Bitcoin dominance does reverse hard against altcoins, the line in the sand to watch for is around 52% dominance. Above there would trigger the first ever monthly buy signal of Bitcoin against altcoins.\u00a0 Will BTC recapture 50% of crypto market share? | Source: ETHUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":507256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[25731,428,13510,1119,75754,1144],"class_list":["post-507252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin-season","tag-bitcoin","tag-bitcoin-dominance","tag-btc","tag-btc-d","tag-btcusd"],"acf":[],"yoast_head":"\nVIDEO: Bitcoin Dominance Versus Altcoins (BTC.D): October 20, 2022<\/h2>\n
Bitcoin Outperforms Altcoins During Sideways Phase<\/h3>\n
Bitcoin is has been outperforming altcoins | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Why Altcoin Season Could Be Over For Some Time<\/h2>\n
But the trend could just be beginning | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Can Alts Hold Onto 50% Of Crypto Dominance?<\/h3>\n
Will BTC recapture 50% of crypto market share? | Source: ETHUSD on TradingView.com<\/a><\/pre>\n<\/div>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n<\/div>\n","protected":false},"excerpt":{"rendered":"