$USDT dominance is still bullish?#usdt #tether dominance rallied too much in June. But it's not over? #usdt may have a Elliott's 3rd minor wave impulsive move to reach the higher red box. Losing current zone is the invalidation.
Usddominance
Short-term DXY Analysis: Navigating a Diamond Bottom 📈💎Short-term DXY Analysis: Navigating a Diamond Bottom 📈💎
The US Dollar Index (DXY) is a critical indicator for currency traders, reflecting the strength of the USD against a basket of major currencies. As of mid-April 2024, here's a concise analysis based on the current market scenario, recent technical patterns observed, and economic events:
Diamond Bottom Formation 💠
The DXY chart suggests the formation of a 'diamond bottom,' typically a bullish reversal pattern that occurs after a price drop. This pattern suggests potential for a reversal of the preceding downtrend, indicating that buyers might be gaining ground.
Current Economic Backdrop 🌐
With geopolitical tensions and hawkish tones from central banks, particularly the Federal Reserve, there is a noted increase in the DXY. Hawkishness from the Fed Chair Powell indicates that rate cuts may not be imminent, reinforcing the USD’s strength.
Technical Levels to Watch 🧐
Resistance Levels: The DXY faces immediate resistance at the 105.38/63 zone. A decisive break above could push it towards 106.57, with 107.17/20 as the next target for bulls.
Support Levels: Initial support lies at the lower parallel/78.6% retracement of the yearly range at 104.53, followed by 104.23. A break below these levels could lead to a correction towards 103.47/49.
Market Sentiment 📊
Market sentiment shows mixed positions among traders in commodities like gold and currencies like EUR/USD, with many investors likely leaning towards safer assets amid uncertainty.
Possible Triggers 🔔
Central Bank Policies: USD bulls are currently facing headwinds from the Fed's stance and upcoming rate decisions.
Global Market Dynamics: Rising geopolitical tensions and market volatility could increase the allure of the USD as a safe-haven asset.
Conclusion: USD's Path Ahead
In the short term, the DXY's outlook hinges on whether support levels hold post-FOMC decisions and broader market sentiment. If geopolitical situations exacerbate or central banks adopt more hawkish policies, the DXY could see further upside. Conversely, a break below key support levels could signal a shift in trend. The situation calls for vigilant monitoring of upcoming economic releases and central bank activities.
🔍 Please Note: This analysis does not constitute financial advice. Investors should conduct their own research or consult a financial advisor before making any investment decisions.
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💡USDT.D Guiding Light 💡Before continuing the decline, we are prepared for a corrective price movement in the market. Please be cautious with your assets.
USDT DOMININCE 2 HOURS UPDATE Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#USDT DOMINANCE short and simple UPDATE
USDTDOMINANCE is forming this rising wedge pattern in a 2hr time frame
Here we may Bounce from here up to the upper resistance of this rising which pattern then we can accept rejection from there.
Let's see how the daily candle closes
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
USDT DOMININCE 2 HOURS UPDATE Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as an
Financial advice.
USDT DOMINANCE:-
USDT DOMINANCE makes this ascending channel pattern in 2 hours TF currently it's brocked the channel and retesting it.
we are expecting a drop from here up to the 3.80% level or if it breaks his channel upside then the chart will become invalid.
Let's see how the market reacts in a few hours.
let's see how the daily candle closes.
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Dollar vs Bitcoin: who wins?Hey guys.
In this study I compare the dominance of the dollar in the crypto market, against the price of Bitcoin.
The dominance of the dollar in stable coins represents the percentage of capital in this asset in relation to the cryptocurrency market as a whole.
When this percentage rises, it means that people are more positioned in dollars.
On the contrary, when the percentage drops, it means that there is a higher positioning in the other cryptoassets.
If we look at the dominance of stable coins, such as 'USDT.D' (Theter), 'USDC.D' (Circle), etc., and compare with Bitcoin,
we can say that there is a negative correlation.
In the graph at the top that I present to you, I added the dominance of all the important stable coins -- USDT, USDC, DAI, UST, BUSD, HUSD, USDK.
And not to leave out the weight of the traditional market, I also added the DXY (U.S. Dollar Currency Index).
In this one I divided the value by 100, aiming to have a more adequate measure proportion.
On the bottom chart of the screen we have the price of Bitcoin, in an ascending triangle, which is a bullish pattern.
Fact. Regardless of war, pandemic, FED, news or whatever.
We have two important regions within the parallel channel, within the dollar chart: every time the value reaches the top of the channel, we have strong Bitcoin appreciation; and every time the value reaches the bottom of the channel, we have a strong devaluation of Bitcoin.
In the current scenario, we are in an important region, indicating a possible depletion of dollar strength, through a 'shoulder-head-shoulder' graphic formation, which would be a bullish scenario for Bitcoin.
However, not everything is flowers.
Imagine that you are a whale (if you are, congratulations), and knowing the value of BTC and everything it represents (of you being your own bank, having the freedom to do whatever you want with YOUR money, regardless of parasite politicians), you want to acquire more BTCs.
Well then, what would you do? I would try to buy it as cheaply as possible.
And that includes manipulating the market, creating fear, panic, FOMO (...) (not that I would)
We are seeing a flurry of news, both for the positive and for the negative...
saying that institutional X acquired millions of Bitcoins... that company Y adopted Bitcoin as a form of payment.
'Everyone is buying, now I'll be a millionaire'...
Meanwhile, proponents of the apocalypse always claim that the end of the world is coming: 'war on Ukraine',
'new pandemic wave', 'Fed monetary tightening'...
All this for the sardine to get confused, buying top and selling bottom, and rotating equity.
Who wins are the brokers with the brokerage fees.
And even if it makes sense to execute a sell trade in bottom (imagining the world is going to end), there is always a buyer on the counterparty.
Just to reflect.
So watch out for the news.
USDT Dominance bouncing, Opportunities ahead?Welcome to this short update on USDT Dominance.
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Let's get to the chart,
The index broke down below the triangle and is currently trying to reach the 4.80% level.
A breakout above this triangle would be bad for the whole market.
Though the PA is pointing towards a possible rejection from the upper resistance zone.
This short-term pump is giving us a good opportunity to get Into alts cheaper.
Let me know what you think.
Do hit the like button if you want me to keep this chart updated and post more.
Thank you
#PEACE
USDT DOMININCE 1D UPDATE Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as an
In a higher time frame, USDT DOMINANCE is making this symmetrical triangle pattern.
Let's take a look at the RSI. The USDT dominance might be rallying higher but there ain't enough strength in the RSI. The RSI is weak which indicates that the USDT dominance will fall sooner or later. I am keeping my eyes on it and waiting for the right opportunity to enter the market.
so, let's see how the market reacts in a few hours
This chart is likely to help you in making better trade decisions, if it did do consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
USDT DOMININCE 12 HOUR UPDATE Welcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
I have tried my best to bring the best possible outcome in this chart.
USDT DOMINANCE is lying in this important support level of this ascending channel.
First scenario: USDT DOMINANCE is already on this important support level if we Bounce from here then resistance is around 5.09% or we have some local resistance at is 4.27% level. let's see how the daily candle closes.
Second scenario: if the Daily candle closes downside this important support level then we can accept a fast drop up to 3.3 %. both sides are dependent on this daily candle.
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section
USDT DOMININCE 4HOUR UPDATE Welcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
I have tried my best to bring the best possible outcome in this chart.
USDT dominance is going as I said in the previous chart.
As we can see in the chat in a shorter time frame USDT DOMINANCE has already broken out this ascending triangle pattern and it got already Bounce 11% from the breakout of this pattern according to this pattern we will Bounce from here up To 24.86% more.
WE HAVE IMPORTANT RESISTANCE OF AROUND 5.6%.expeted a rejection from 5.6%.
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section
#MASSIVE RALLIES INCOMING, Here's why!!Welcome to this quick update, everyone.
USDT Dominance whenever breaks below this blue MA line. we witness a multi-week green market.
The chart shows similar patterns as of now.
Also getting rejected from the Channel resistance.
A close below 2.71 is highly likely which will eventually lead to massive bull rallies across the whole market for the next few weeks.
Follow me for more updates and trade setups.
I've already posted a handful of altcoins based on this strategy in the last few days on my TG.
Do hit the like button and share your views in the comment section.
Thank you
#PEACE
