A widely followed cryptocurrency analyst and trader is suddenly turning bullish on altcoins.
The analyst, pseudonymously known as Bluntz, tells his 322,200 followers on social media platform X that the Bitcoin dominance (BTC.D) metric is flashing a bearish divergence, setting the stage for alts to outperform the flagship crypto asset.
A bearish divergence occurs when the price is recording higher highs and higher lows while an indicator such as the Relative Strength Index (RSI) is recording lower highs. The RSI indicator is a momentum oscillator used to determine oversold or overbought conditions.
Trending: White House Releases Full Salaries for Trump 47 Staff, Including Leavitt, Miller, More
“The three-day BTC dominance bear divergence ended up rolling into a weekly bear divergence, too. The time to be long alts is here in my opinion.”
Source: Bluntz/X
BTC.D is a metric that
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!