USDT DOMINANCE: A DECISION TO MAKE.
Hello traders, here's a fresh update on USDT dominance in the daily timeframe.
Recap: In my previous USDT.D update, I mentioned the bounce back from the 5.8% support level. The dominance did pull back but dropped back to the supporting trendline.
Update: Currently, in the daily timeframe, the USDT.D is under the symmetrical triangle formation. We all know that the symmetrical triangle pattern is always a decision pattern where the price either goes up or goes down depending on the condition. Therefore without complicating the chart, I would like to keep it simple for you all.
The key levels for USDT dominance:
1. 7.15% resistance level: If the USDT.D manages to break above 7.15%, things will not be good for the market.
2. 6.45% support level: If the dominance breaks down below it then the market will pump hard.
Therefore, it is important to keep your eyes wide open and trade with proper risk management.
I hope this idea is helpful for you. Thank you so much for your support.
God bless and trade safely.
Recap: In my previous USDT.D update, I mentioned the bounce back from the 5.8% support level. The dominance did pull back but dropped back to the supporting trendline.
Update: Currently, in the daily timeframe, the USDT.D is under the symmetrical triangle formation. We all know that the symmetrical triangle pattern is always a decision pattern where the price either goes up or goes down depending on the condition. Therefore without complicating the chart, I would like to keep it simple for you all.
The key levels for USDT dominance:
1. 7.15% resistance level: If the USDT.D manages to break above 7.15%, things will not be good for the market.
2. 6.45% support level: If the dominance breaks down below it then the market will pump hard.
Therefore, it is important to keep your eyes wide open and trade with proper risk management.
I hope this idea is helpful for you. Thank you so much for your support.
God bless and trade safely.
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