New Month Bitcoin Dominance Chart
With the May Candle now closed, we continue to see a squeeze into the nose of a triangle. Short moving averages suggest upwards pressure, however Ichimoku cloud and MACD both suggest downward pressure. Price action is inside of the forming cloud. Traders will be ready for imminent breakout of the triangle in either direction for a strong rally in either direction. Will altcoins go nuts or will bitcoin defend its claim to fame?
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