Technical analysis of Bitcoin (BTC) against Tether (USDT) on a daily timeframe:
1. Main Bullish Trend:
The chart shows a long-term bullish trend line starting from the lower left corner and extending upwards. This line has been acting as a support level for Bitcoin's price.
2. Double Top Pattern:
A double top pattern is identified near the upper middle section...
💁♂️HI Everyone
This analysis is a bit a different in DAILY Timeframe .MY two analysis are posted together .
✳As you can see, since November 2021, the price of Bitcoin has been falling for more than 1 and a half years, and the dominance USDT.D / USDC.D has been accompanied by an upward trend.
🟠 In the month of JUN18.2022, due to the positive reaction to the...
CRYPTOCAP:USDT.D
Dominance Tether broke its 4-month uptrend and now, given the market conditions that show signs of correction, Domain Tether is going to retreat and then go down (according to the chart).
In this case, we will see the market reform in the next few days.
So if you have a long position, be sure to stick to Stop Loss and observe capital management.
See the pattern of the DOUBLE BOTTOM on the USDT.D chart.
Given the Fibonacci targets of this pattern, as well as the breaking of the neckline and pullback to it, the ascent is expected to occur, at least up to the 4.8-5.5 range.
