USDT DOMINANCE: REACHING BACK TO 7.26% RESISTANCE.
Updated
Quick update on the USDT dominance in 6 hours timeframe.
We can see that the USDT.D is trying to break and close above the 7% resistance zone and further moving toward 7.26% resistance. The further rally on USDT.D could possibly drop BTC up to 21.9k and the altcoins by 8% to 10%.
We can see that the USDT.D is trying to break and close above the 7% resistance zone and further moving toward 7.26% resistance. The further rally on USDT.D could possibly drop BTC up to 21.9k and the altcoins by 8% to 10%.
Comment
Watch out! The USDT dominance might bounce back. The 21 MA in 6 hours TF is showing strong support for the dominance. If the dominance manages to hold it, the attempt to reach close to 7.25% resistance is imminent. Meaning, BTC and altcoins might be in danger. The only safety net is the USDT.D breakdown below the 21 MA.
If you are into any long trade setups then use your SL carefully.
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.