In this episode of NewsBTC’s daily technical analysis videos, we 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.
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 BTC.D Analysis October 20, 2022″ width=”500″ height=”281″ src=”https://www.youtube.com/embed/p5OA1VOTtf4?feature=oembed” frameborder=”0″ allowfullscreen=”allowfullscreen”>
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
Interblockchain settlements protocol THORChain paused bitcoin (BTC) and ether (ETH) withdrawals on its lending and…
Bitcoin (BTC) held steady during Friday's Asian hours after Bank of Japan (BOJ) lifted the…
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim…
After a flash crash to $89,256 earlier this month, Bitcoin (BTC) made a swift recovery,…
President Donald Trump has signed a Executive Order titled “Strengthening American Leadership in Digital Financial…
Although Bitcoin price action is still holding above the $100,000 price level, the past 24…