A Major level for USDT.D
Updated
USD.T dominance is forming an ascending triangle, which is considered bullish. However, we did break down from the triangle. I published the first altcoin season idea on December 17th, 2022 and I believe that a pump is coming.
Currently, we are running into heavy Support from the 50-week moving average. For altcoins to remain bullish , we need to break this level. If we don't break through this weekend, we may see a large green candle.
So, it's best to be cautious and not risk your money right now. Stay out of the market and wait for the candle to form before making any decisions. The market could potentially experience a hard dump or a hard pump, so it's important to be informed. I will update this idea as more information becomes available.
Have a great day folks
Currently, we are running into heavy Support from the 50-week moving average. For altcoins to remain bullish , we need to break this level. If we don't break through this weekend, we may see a large green candle.
So, it's best to be cautious and not risk your money right now. Stay out of the market and wait for the candle to form before making any decisions. The market could potentially experience a hard dump or a hard pump, so it's important to be informed. I will update this idea as more information becomes available.
Have a great day folks
Note
FROM MY FACEBOOK: "Here is why I think the small bull run is over for now. (This is not a prediction, but a probability)DXY is testing its major support at the 100-week moving average.
USDT.D dominance is also testing a major support level at the 50-week moving average.
The S&P is also testing resistance at the 50-week moving average (it has already been rejected by this resistance four times).
Bitcoin and other altcoins are running into heavy resistance."
Note
My previous comment might get invalidated, because fed has change the way they calculate the CPI report :) so watch outNote
As we wait for the Consumer Price Index (CPI) report, I anticipate that the market will continue to rise until the Federal Reserve or President Biden decide otherwise. Recently, President Biden stated that the likelihood of a recession is minimal.
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