Bearish situation for the dominance of BTC which tells me we will rebound on altcoins before BTC or the bounce will be much harder on alts. You can see my BTC analysis that BTC is still in good shape to $7600 level. I do not agree the 200DMA has been closed below because on the futures market it is not the case (no trading on weekends)
For dominance
-Daily averages - 50 below 100 and 100 below 200 with recent crossover to the downside
-Weekly averages - below 200, below 50weekly average and high chance of closing below it today
-Fib, from 2017 high to 2017 low- rejection of the retest at 61.8 which is the same level as 200weekly moving average, rejection of .5 fib today with bearish candle pattern
-RSI - no divergence at all, still strong sell
There are several altcoins which are still in good shape - rsi still uptrending well and MACD already on crossover.
For dominance
-Daily averages - 50 below 100 and 100 below 200 with recent crossover to the downside
-Weekly averages - below 200, below 50weekly average and high chance of closing below it today
-Fib, from 2017 high to 2017 low- rejection of the retest at 61.8 which is the same level as 200weekly moving average, rejection of .5 fib today with bearish candle pattern
-RSI - no divergence at all, still strong sell
There are several altcoins which are still in good shape - rsi still uptrending well and MACD already on crossover.
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