37.2K @Cryptollica BTC DOMINANCE is the altseason gatekeeper.
In 2017, break opened the first real rotation.
In 2021, the same rejection sent dominance from 72% to 39%.
Now it is sitting near 58% again, and altcoins need this gate to open.
Target: 39%-35% zone 💥 https://t.co/lySOiHIfvP
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16.2K @The_JDK99 GM ☕️
The first hedge-short attempt was stopped out.
Why? Price swept the daily highs and had both the conditions and trigger to move lower on absolute weakness, but even then sellers failed to take control of the auction - strength.
That said, this is still a 💩-looking bounce into major HTF resistance.
Spot continues to show little support for the move. Perps are finally showing genuine intent through new long positioning, but overall, this remains a leverage-driven pump into major HTF resistance, with no meaningful spot backing and supply building above the current price.
I am therefore taking my second and final hedge short within this range.
If price wants to take out my swing long, I think this is where it happens. On the other hand, if price breaks and accepts above the current highs, I would expect strong continuation to the upside, especially given how strong the current low looks.
I would not take this hedge without the context of my existing long:
- We pump from here, and I give back some profits on the hedge.
- We dump from here, and the hedge protects a meaningful portion of the profits from my long.
My current swing-long position remains smaller than intended. Ideally, I would still like to see a test of the $60K region to secure a better entry given a strong low.
Otherwise, I will simply have to add to the swing once we see confirmed strength above the current highs, with price accepting back into value, even if that means raising my average entry. $BTC #Bitcoin
https://t.co/zdLBVwwyxq
16.2K @The_JDK99 bitcoin:native 📈
Daily highs got swept straight into the 0.618 + selling IB confluence - we discussed this in Discord,
For now I’m staying in my hedge short, and I even added a bit of size as the move still showed no real intent: OI was falling and spot CVD printed a lower high.
However I'm not accepting higher today or another test of the high, so I’ve trailed my SL right to the current high - risk is managed well and kept low!
https://t.co/TuDdHRLHaM
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6.7K @emkfinans Good morning, we have made nice profit again since yesterday, $BTC is testing $64K. If the breakout is successful, the market will start moving up again. Positive closing above $64K. https://t.co/GaoQYuPvjj
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Bitcoin (BTC) is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009. The system featured as peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value by now.
