USDT Dominance & Bitcoin Market Analysis
As I mentioned earlier, when USDT dominance moves to sweep its previous high, Bitcoin automatically drops while USDT dominance rises. That’s exactly what happened, and once again, our prediction turned out to be accurate. However, there’s nothing extraordinary about this—we simply present our analysis. Sometimes, we are right; other times, we may be wrong. Nothing in the market is 100% certain.
Now, as we can see, USDT dominance has swept its previous high and tapped into a strong weekly resistance zone. This suggests that we might see a reversal in USDT dominance from here, which could lead to Bitcoin reaching a new all-time high and beginning a fresh uptrend.
For those seeking additional confirmation, it would be wise to wait for the lower trendline on the daily timeframe to break before making any major decisions. As I previously stated, the sweep of the previous high was expected, and it has now happened. This was likely our Scenario #1.
As time progresses, I will continue to provide updates. If you need an analysis of any specific coin or market trend, feel free to request it in the comment section.
Thank you!
As I mentioned earlier, when USDT dominance moves to sweep its previous high, Bitcoin automatically drops while USDT dominance rises. That’s exactly what happened, and once again, our prediction turned out to be accurate. However, there’s nothing extraordinary about this—we simply present our analysis. Sometimes, we are right; other times, we may be wrong. Nothing in the market is 100% certain.
Now, as we can see, USDT dominance has swept its previous high and tapped into a strong weekly resistance zone. This suggests that we might see a reversal in USDT dominance from here, which could lead to Bitcoin reaching a new all-time high and beginning a fresh uptrend.
For those seeking additional confirmation, it would be wise to wait for the lower trendline on the daily timeframe to break before making any major decisions. As I previously stated, the sweep of the previous high was expected, and it has now happened. This was likely our Scenario #1.
As time progresses, I will continue to provide updates. If you need an analysis of any specific coin or market trend, feel free to request it in the comment section.
Thank you!
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.
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.