USDT Dominance Update
If USDT.D rejects from here, we will see a new all-time high for BTC. In the past, USDT.D maintained strong support at around 3.78% and is currently showing rejection from the resistance level.
A rejection from the current level to the support will be around 14%, which should be sufficient for BTC to reach a new all-time high.
On the other hand, the pattern is also close to a double-bottom, which suggests a breakout and retest.
After analyzing both BTC and USDT.D side by side, I am leaning more toward the rally. However, keeping the odds in mind, I will maintain the 90k-94k support for BTC and make a precise investment.
Please do your own research and analysis before investing. This is not financial advice.
A rejection from the current level to the support will be around 14%, which should be sufficient for BTC to reach a new all-time high.
On the other hand, the pattern is also close to a double-bottom, which suggests a breakout and retest.
After analyzing both BTC and USDT.D side by side, I am leaning more toward the rally. However, keeping the odds in mind, I will maintain the 90k-94k support for BTC and make a precise investment.
Please do your own research and analysis before investing. This is not financial advice.
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.