BTC dominance about to bounce hard. Huge volatility expected.

See weekly chart, self explanatory.

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Ok, to further clarify my view, here is what i see ( in no particular order ):

1) Red TD count at 17 already ( first time EVER )
2) Minor falling wedge.
3) Divergence on RSI since January low.
4) RSI, Stoch RSI and Willy near to oversold.
5) MACD seemingly about to turn.
6) Still close and over FIB 0.618 key level.

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Oh ... forgot

7) Volume picking up.

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After the slump almost a hammer on 1H.
We need it as well on 4H close.

Come on.

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Close to 62 mark and trying to breakout the wedge.

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Watch it now.

It may play out an inverted H&S or Cup & handle.
See neckline.

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Ascending triangle close to edge.

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It's on the move ...

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Dominance about to reach key resistance in the 67/68 range.

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A pullback seems likely.
Let's see.

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We got a pullback already to the 64 range.
Watch the ongoing test of 63.8-64.2.
It's going to decide between bounce and further pullback.

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We have shrinking BBs, negative MACD.
Current support i MA50/W, with MA20/D rising from below.

That's the scenario.

Bias i slightly bearish and if MA20/W fails to hold on weekly close that may forecast a further pullback. If it holds a bounce, maybe tempoarry, may happen from there.

f-73

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