Hello everyone! On the daily chart, there is an uptrend and ascending triangle pattern in dominance. Daily closes above 46.76 may cause most investors in the cryptocurrency market to turn their attention much more on Bitcoin ,then dominance to move upwards more quickly. Although it does not look very positive right now, there were increases in most altcoins with the increase of BTC yesterday, but sometimes these increases can stagger because for almost 6-7 months the dominance has been falling and the alts have been increasing significantly, but this image may deteriorate for a while and it may be possible for BTC to regain its dominance. I would also like to share informative statistics about the ascending triangle. I did not show the target in the chart -it can be in any direction- if there is a break, I will show it by sharing an idea again. Have a nice day !
- In 62% of cases, the exit is bullish.
- In 75% of cases, an ascending triangle is a continuation pattern.
- In 75% of cases, the triangle's price objective is reached when the resistance is broken (exit from the ascending triangle).
- In 60% of cases, the price makes a pullback after exit in support on the triangle's resistance line.
- In 25% of cases, the price line indicates false line breaks or false triangle exits.
- In 62% of cases, the exit is bullish.
- In 75% of cases, an ascending triangle is a continuation pattern.
- In 75% of cases, the triangle's price objective is reached when the resistance is broken (exit from the ascending triangle).
- In 60% of cases, the price makes a pullback after exit in support on the triangle's resistance line.
- In 25% of cases, the price line indicates false line breaks or false triangle exits.
