USDT.D Total Market Idea Cup and Handle
USDT.D On the 4HR is in a cup and handle pattern: Breakout of this pattern is BEARISH for the crypto market
It is near the top of the pattern so Looking for a breakout or rejection.
Currently is getting rejected by upper trendline.
Rejection here would give BULLISH price action for the crypto market.
As USDT.D falls crypto will rise.
Breakout: Watching overhead Resistance Levels: 7.04 - 7.09.
Next 7.18 - 7.30
Breakout here for USDT.D will give BEARISH price action for the crypto market
Rejection: Watching 4HR 21 Moving Average for support bounce [Patient Bullish Entry] or lose that level and Bearish Retest
Could also get a bounce off of lower trendline of cup and handle pattern 6.80 - 6.85 Zone [Best Bullish Case Entry]
It is near the top of the pattern so Looking for a breakout or rejection.
Currently is getting rejected by upper trendline.
Rejection here would give BULLISH price action for the crypto market.
As USDT.D falls crypto will rise.
Breakout: Watching overhead Resistance Levels: 7.04 - 7.09.
Next 7.18 - 7.30
Breakout here for USDT.D will give BEARISH price action for the crypto market
Rejection: Watching 4HR 21 Moving Average for support bounce [Patient Bullish Entry] or lose that level and Bearish Retest
Could also get a bounce off of lower trendline of cup and handle pattern 6.80 - 6.85 Zone [Best Bullish Case Entry]
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