• Latest
Bull Flag Forming On Bitcoin Dominance Could Offer Crushing Blow to Altcoins

Bull Flag Forming On Bitcoin Dominance Could Offer Crushing Blow to Altcoins

June 8, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Bitcoin

Bull Flag Forming On Bitcoin Dominance Could Offer Crushing Blow to Altcoins

coinnewsdaily by coinnewsdaily
June 8, 2020
in Bitcoin
0
Bull Flag Forming On Bitcoin Dominance Could Offer Crushing Blow to Altcoins
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Searching by means of crypto Twitter or any Bitcoin or cryptocurrency-connected subreddit, lately, there’s been speak of an altcoin season brewing appropriate less than the noses of crypto investors just about everywhere.

However, a bull flag forming on BTC dominance could not only retain an alt period from developing, but it could also offer altcoins a crushing blow and bring their valuations a great deal nearer to zero.

Cryptocurrency Marketplace Reaches a Pivotal Minute For Bitcoin and Altcoins

The cryptocurrency market is at a important junction. Bitcoin sentiment is bullish after again. Fundamentals are screaming buy, and technicals point to the asset’s prolonged-expression uptrend resuming.

The similar can not be mentioned for altcoins, which appear to be battling to uncover momentum together with the to start with-at any time cryptocurrency.

Even very clear breakouts as a result of about 800-times of downtrend resistance have thus significantly failed to reignite the desire in the altcoin area that as soon as was.

Related Examining | Enterprise Capitalist: Crypto Gains Will not Come As Simple In the course of Next Bull Run 

Venture capitalists conclude that the times of uncomplicated dollars in crypto are most likely over. Some analysts even claim that these property will hardly ever revisit their previous all-time higher valuations, though other individuals imagine that altcoins will inevitably go to zero.

If a chart pattern in BTC dominance charts confirms as valid, altcoins will before long come across by themselves a whole lot closer to zero, as Bitcoin could before long eclipse the choice crypto assets.

BTC Dominance Could Spike to 85% If Bull Flag Pattern Confirms

Bitcoin’s previous halving kick-started the 1st-at any time altcoin season, but this time all over, alts have only suffered. The struggling may possibly select up in severity, in accordance to BTC dominance charts which are signaling continuation to the upside with a crystal clear bull flag formation.

Bull flags are generally continuation designs, and normally split bullish to the upside. Bull flags have a inclination to development downward just before the upward breakout, additional surprising bears with a potent pump.

These moves are calculated by having the flag pole and introducing its duration to the top of the sample the place the breakout occurs.

In the chart above, at the end of the crypto bubble, BTC dominance formed a W-formed double base.

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022

The preliminary rise from there formed a bull flag and downward sloping channel. This pattern inevitably broke up, confirming the bull flag sample as valid.

Immediately after a further calculated transfer matching the height of the 1st flag pole, an additional bull flag appears to be forming.

Related Reading through | Chartered Market place Technician Statements Crypto Poised For Robust Uptrend 

If this, 2nd, downward sloping channel breaks upward, it could ship BTC dominance to practically 85%.

This kind of a move would both need an enormous go in Bitcoin to the upside that is not reflected in altcoins, or altcoins will bleed into Bitcoin in a big way.



Share76Tweet47
Previous Post

Rate Examination 6/8: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ

Next Post

Why the ICO Boom in China Refuses to Die – Cointelegraph Magazine

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
Bitcoin

Play-to-Earn Bitcoin Games: How Lightning Network Enables Gamers to Earn Sats

April 20, 2022
Load More
Next Post
Why the ICO Boom in China Refuses to Die – Cointelegraph Magazine

Why the ICO Boom in China Refuses to Die – Cointelegraph Magazine

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$20,991.00-1.75%
  • ethereumEthereum(ETH)$1,223.35-0.30%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$238.71-0.06%
  • rippleXRP(XRP)$0.349027-4.03%
  • cardanoCardano(ADA)$0.490598-2.74%
  • SolanaSolana(SOL)$39.19-3.27%
  • dogecoinDogecoin(DOGE)$0.071563-7.24%
  • polkadotPolkadot(DOT)$7.81-3.84%
  • Shiba InuShiba Inu(SHIB)$0.000011-4.45%
  • daiDai(DAI)$1.000.15%
  • tronTRON(TRX)$0.067704-2.39%
  • leo-tokenLEO Token(LEO)$5.82-1.08%
  • matic-networkPolygon(MATIC)$0.54-7.44%
  • litecoinLitecoin(LTC)$56.11-3.06%
  • FTXFTX(FTT)$27.50-1.55%
  • OKBOKB(OKB)$12.40-2.14%
  • CronosCronos(CRO)$0.125370-1.53%
  • chainlinkChainlink(LINK)$6.65-3.51%
  • stellarStellar(XLM)$0.119239-3.12%
  • cosmosCosmos Hub(ATOM)$7.90-6.45%
  • algorandAlgorand(ALGO)$0.331658-3.15%
  • ethereum-classicEthereum Classic(ETC)$16.50-3.90%
  • moneroMonero(XMR)$121.32-5.30%
  • bitcoin-cashBitcoin Cash(BCH)$111.07-4.50%
  • vechainVeChain(VET)$0.024948-0.76%
  • tezosTezos(XTZ)$1.647.51%
  • Internet ComputerInternet Computer(ICP)$5.89-0.97%
  • theta-tokenTheta Network(THETA)$1.35-3.51%
  • filecoinFilecoin(FIL)$5.79-3.87%
  • ElrondElrond(EGLD)$56.07-2.53%
  • bitcoin-cash-svBitcoin SV(BSV)$59.47-3.85%
  • eosEOS(EOS)$0.99-2.19%
  • AaveAave(AAVE)$67.440.55%
  • makerMaker(MKR)$1,011.86-3.75%
  • paxos-standardPax Dollar(USDP)$1.000.03%
  • huobi-tokenHuobi(HT)$5.30-1.15%
  • iotaIOTA(MIOTA)$0.292417-1.14%
  • zcashZcash(ZEC)$62.17-6.41%
  • neoNEO(NEO)$9.53-3.13%
  • zilliqaZilliqa(ZIL)$0.043915-6.40%
  • basic-attention-tokenBasic Attention(BAT)$0.394207-2.85%
  • wavesWaves(WAVES)$5.79-6.14%
  • havvenSynthetix Network(SNX)$2.43-12.23%
  • dashDash(DASH)$49.03-3.66%
  • PancakeSwapPancakeSwap(CAKE)$3.36-1.73%
  • KusamaKusama(KSM)$53.92-2.59%
  • nemNEM(XEM)$0.0424830.97%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$50.46-2.90%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$3.04-1.48%
  • bitcoin-goldBitcoin Gold(BTG)$17.09-2.78%
  • omisegoOMG Network(OMG)$2.021.27%
  • golemGolem(GLM)$0.2538924.24%
  • SushiSushi(SUSHI)$1.17-1.26%
  • ontologyOntology(ONT)$0.2506782.13%
  • yearn-financeyearn.finance(YFI)$6,099.90-9.01%
  • umaUMA(UMA)$2.69-2.97%
  • digibyteDigiByte(DGB)$0.010106-4.57%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....