USDT DOMINANCE: STILL NOT ENOUGH!!!
Welcome folks to my new update on USDT DOMINANCE.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Looks like the USDT Dominance hasn't got enough strength to break through the 5% resistance level. Every time the dominance tried to break through it, the end result was a rejection. Well, this time will it get rejected again? Or will it break through? Let us discuss on this chart the possible outcome of USDT Dominance and the entire market.
The USDT.D has been gradually increasing making a higher low pattern but comparing it with the RSI, the RSI is decreasing making a lower high pattern. Whenever we notice such differences between the RSI and the actual chart, it indicates either a dump or a pump, and in this case, we may see a dump coming soon. This means BTC and other altcoins may rally higher.
Flipping the other side of the coin, if the USDT.D denies the dump and breaks through the 5% resistance then we will surely see a major dump in the entire market. So, the 5% resistance is still a valid resistance level and I will stick with it.
My biased is towards rejection. What about you? Do you think the USDT dominance will reject or will it breakthrough?
Share your views in the comments.
Do like, and follow for more interesting updates.
I'll see you in the next update.
Thank you and trade safely.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Looks like the USDT Dominance hasn't got enough strength to break through the 5% resistance level. Every time the dominance tried to break through it, the end result was a rejection. Well, this time will it get rejected again? Or will it break through? Let us discuss on this chart the possible outcome of USDT Dominance and the entire market.
The USDT.D has been gradually increasing making a higher low pattern but comparing it with the RSI, the RSI is decreasing making a lower high pattern. Whenever we notice such differences between the RSI and the actual chart, it indicates either a dump or a pump, and in this case, we may see a dump coming soon. This means BTC and other altcoins may rally higher.
Flipping the other side of the coin, if the USDT.D denies the dump and breaks through the 5% resistance then we will surely see a major dump in the entire market. So, the 5% resistance is still a valid resistance level and I will stick with it.
My biased is towards rejection. What about you? Do you think the USDT dominance will reject or will it breakthrough?
Share your views in the comments.
Do like, and follow for more interesting updates.
I'll see you in the next update.
Thank you and trade safely.
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.