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🔔 SIGNAL SOURCE: 03 🍒
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#MARKET UPDATE
BTC dominance 45.3% UP 0.3% in 24h Long-term downside resistance remains at 35.5%. 40% is now the new mid-term resistance. BTC dominance high for 2018 was briefly broken yesterday at 45.8% and rejected.
Global Cap $277B DOWN $8B in 24h The 2018 low is $233B. $291B short-term upward resistance being tested right now. This resistance held twice in the past 5 weeks.
Daily Global Volume $14.1B DOWN 1.7B.
Large buy candle in BTC yesterday took BTC dominance to a new 2018 high of 45.8% for a few hours before BTC weakened and took the global cap down with it. 39 of the top 40 coins/tokens are down vs fiat in the last 24 hours, so we now have a weak GLOBAL BEAR state with sharply declining volume.
Looking at the BTC 1d chart, that candle yesterday does not look like much, but on the 1h chart, it looks like it could represent a topping pattern to me. A short-term top for BTC, for BTC dominance, or even both. The speed at which that candle was rejected is notable. Here is that action on the 15m bars…
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🔔 SIGNAL SOURCE: 03 🍒
~~~~~~~~~~~~~~~~~~~~~~~
#MARKET UPDATE
BTC dominance 45.3% UP 0.3% in 24h Long-term downside resistance remains at 35.5%. 40% is now the new mid-term resistance. BTC dominance high for 2018 was briefly broken yesterday at 45.8% and rejected.
Global Cap $277B DOWN $8B in 24h The 2018 low is $233B. $291B short-term upward resistance being tested right now. This resistance held twice in the past 5 weeks.
Daily Global Volume $14.1B DOWN 1.7B.
Large buy candle in BTC yesterday took BTC dominance to a new 2018 high of 45.8% for a few hours before BTC weakened and took the global cap down with it. 39 of the top 40 coins/tokens are down vs fiat in the last 24 hours, so we now have a weak GLOBAL BEAR state with sharply declining volume.
Looking at the BTC 1d chart, that candle yesterday does not look like much, but on the 1h chart, it looks like it could represent a topping pattern to me. A short-term top for BTC, for BTC dominance, or even both. The speed at which that candle was rejected is notable. Here is that action on the 15m bars…
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