BITCOIN AND USDT DOMINNACE: SIDE-BY-SIDE COMPARISONHello traders, I hope you all are doing well. Today, I have an interesting update for you all. A side-by-side comparison of BTC and USDT.D.
I hope this idea will be helpful.
Time frame: 3 hours.
Update: As you can see in this chart, the USDT.D and BTC work like a parallel universe where things are totally opposite to each other. This is because BTC is in the USDT pair and the moment the sellers (in the majority) sell BTC, the USDT dominance increases. In the same way, when buyers (in the majority) purchase BTC in exchange for USDT, the dominance drops, and BTC increases.
Now, the current scenario shows a bearish move on BTC and a bullish move on USDT.D. If this pattern plays off accordingly, we can expect BTC to drop down close to $19k and the dominance to rally up to 7.9%. On the other hand, if BTC needs to be bullish again, it must break above the $20.4k resistance level. For the USDT dominance, 7.3% holds strong support.
I am not saying that we should rely only on these two charts for trades, a trader should always analyze other parameters before investing. There are other charts that we can analyze for better confirmation, the BTC dominance, the total2, DXY, USDC dominance, S&P 500, NASDAQ, etc., and of course the fundamentals.
That's it for now, I'll catch you up on my next update. Until then trade safely.
Thank you.
Usdtdominance
Bitcoin (BTC) - October 6Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Boost".
Have a good day.
-------------------------------------
(USDT 1D Chart)
(USDC 1D Chart)
If additional funds flow through USDT and rise above 68.468B, there is a possibility that the coin market will show an upward trend.
However, for this uptrend to continue, the outflow of funds through USDC must stop.
(BTC.D 1D Chart)
BTC dominance tells you how much money is being concentrated towards BTC or altcoins.
Therefore, when BTC dominance rises, it means that funds are being concentrated towards BTC.
(USDT.D 1D Chart)
USDT Dominance tells you if your funds are being utilized in the coin market.
If USDT dominance declines, the coin market is likely to rise.
However, since it is the flow of money throughout the coin market, if BTC or ETH leads the coin market to an uptrend, altcoins may decline or go sideways.
Therefore, care must be taken in interpretation.
The rising gap in USDT dominance means that new funds have flowed into the coin market.
A drop in the gap means that funds have flowed out of the coin market.
(NASDAQ100 1D Chart)
The key is whether it can support and rise above the 11371.9-11475.5 section.
If not, you should check to see if it is supported on the 10666.6-11169.5 section.
We need to see if we can continue with an attempt to break out of the short-term bearish channel.
------------------------------------------
(BTCUSDTPERP 1D Chart)
- If it rises above 20794.4, the main position is 'LONG'.
- The 19424.9-20794.4 section is a quick response section.
- If it falls below 19424.9, the main position is 'SHORT'.
The key is to find support above 20122.5 and above the uptrend line (1).
To sustain the uptrend, the price must remain above the HA-High indicator.
So, it should either rise above 20794.4, or shake it up and down to make the HA-High indicator fall.
We need to see if we can sustain the price above 19424.9 during the volatility period between around 6-12 October.
If there is an upward trend this time, it is expected that the maximum hurdle will be the 20794.4-21826.1 section.
The SR_R_C indicator includes the Stoch RSI, RSI, and CCI indicators.
A trend reversal is highly likely to occur when two or more of these indicators enter the oversold or overbought zone.
Some indicators may be in the oversold zone and some may be in the overbought zone.
This is likely to be mixed, so it is recommended to pause trading and check the situation.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
---------------------------------
USDT DOMINNACE: PERFECT BOUNCE.USDT Dominance Update:
A perfect bounce as you can see. Damn! I did not see this trendline coming. The USDT.D is rallying up and we can see the opposite reaction on BTC and other altcoins. If this bounce is so good to be true then we may see some more dumps in the market.
I hope you guys followed my BTC update and acted accordingly. Congratulations to those who shorted the market and those who are in loss, if the loss isn't heavy just get out but if it is huge then bear with it.
That's it from my end. Trade safely.
USDT.D CONTINUATION BAD FOR CRYPTOUSDT.DOMINANCE CHART
Weekly and Daily timeframe Symmetrical Triangle in play with target as shown just past the Range High at 10%.
Not good for crypto because going above the blue line 0.382 labelled above market = Chaos.
RSI printing Bullish Divergence.
I also believe we are in the 5th Impulsive Elliot Wave with blow off top, followed by an ABC Corrective Waves.
It is just an idea but if it plays out very bearish for CRYPTO.
USDT DOMINANCE: BREAKDOWN OR FAKE DOWN?Hello traders, here's a quick update on USDT Dominance in a lower timeframe.
Timeframe: 3 hours.
Preview: In our previous update, we discussed about the dominance possibly reaching the resistance level but instead, it got rejected halfway.
Update: Recently, the USDT.D have broken down below the lower support level. If this is the actual breakdown then we can expect the USDT.D to drop up to the 7% level. But if it is a fake down then the USDT.D will probably push back inside and will rally towards the resistance once again.
Conclusion: All I am saying is the market looks tricky here cause the candles and the RSI are telling different things. Also, BTC and other altcoins are hitting the resistance but the dominance is breaking down below the support. If BTC and other major altcoins surpass the resistance level then we may take it in a bullish term but as I said, coins reaching a resistance level with RSI close to the overbought zone have a higher tendency to reject.
I may be wrong or maybe right but this is what it is. Do your research wisely.
Let me know your thought on this in the comments section.
Thank you and trade safely.
#USDT.DOMINANCE 12HOUR UPDATE BY CRYPTOSANDERS !!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
DOMINANCE UPDATE:-USD dominance is forming a symmetrical triangle pattern and the upper train line is in support of the 21ma upside breakout, which could dump BTC and altcoins
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
USDT.D possible pullback GOOD FOR BTC!Hello Traders,
Here a must read update for you to check out.
Let me know your thoughts in the comments.
#USDT.D 12hr chart. This is our goto to see another picture of what the market may do moving forward when it may not be soo clear on #BTC or #ETH. Market structure seems to be forming a possible rising channel or wedge with a small break at the beginning of the wedge. We we have bearish divergence on 4 major indicators showing confluence there. Both patterns of the market structure are bearish in nature. Also keen to note that we have a retrace back up to the golden Fibonacci of 61.8% and slightly into the golden pocket. This is a great area for a sentiment shift and price action to head down…. Which in this case is great for the crypto market if this plays out. When USDT.D goes down the USDT value vs the rest of the crypto market is lower generally showing a move from USDT to other cryptos. Personally I’m 70/30 for an UPTOBER. The charts and data line up. We just have to be realistic as if the US lands another negative growth month for the 3rd month in a row that will be a first and reaffirm that we are surely in a recession. It will be interesting to see. Lots of big data coming from reports this month and the closed FED meeting tomorrow could really shake things up. But, again, CRYPTO charts look bullish on all high time frames. I cannot say the same for a lot of stocks I am looking at though. It is very feasible with all of these large national currencies having turmoil that Bitcoin and other cryptos could finally see the decoupling from traditional assets and take off on a run regardless of what the stock market is doing and has pretty much already started doing so in the past two weeks for the first time in years. SPY dropping like its hot and BTC really just hovering in place.
USDT DOMINANCE: A DROP LONG PENDING.Hello guys, welcome to this USDT dominance update. This will be a continuation of the previous update.
Preview: In our previous update, we talked about the rejection of dominance. It did get rejected but the same thing happened again, the 21 MA held the distinction to drop any further.
Update: In the recent move, it looks like the USDT.D is serging to rally higher. As I said, rejection is long pending and if this bounce is good to be true then the dominance may possibly reach the 8% range and then get rejected. Another possibility could be a rejection from the present price level but only if the dominance shows some weak hands.
Impact: If the USDT.D rallies, the market will drop and vice versa.
That's it from my end. I hope this update will help you with your trades.
Thank you for supporting. God bless and trade safely.
#USDT DOMININCE BREAKS DOWN THIS RISING WEDGE PATTERN!!Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
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 to this chart, Do not consider financial advice.
USDT DOMINANCE UPDATE
USDT DOMINANCE breaks down this rising wedge pattern so we can expect a drop up to 17% according to the pattern.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
#USDT.DOMINANCE 4Hr UPDATE !!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
USDT.D UPDATE:-USDT.D if reject from 7.53% we can see 6.41% to 6.36% if dominance jumps from 7.53% to 7.70% and 7.81% then we reject to 6.38%
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
USDT.DOMINANCE 2HOUR UPDATE BY CRYPTUSANDERSHello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
DOMINANCE UPDATE:-USDT.D is moving in a rectangular chart pattern and moving towards its horizontal resistance. If it breaks above horizontal resistance with a candle close above it, then that would indicate an upside move.
Another possible scenario is a rejection from horizontal resistance and that would be the indication of a downward move. We must keep in mind that USDT.D works opposite to the crypto market and as there is indecision in the market, so better to play level to level with tight stop losses.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
Bitcoin (BTC) - September 29Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(USDT 1D Chart)
(USDT 1D Chart)
A gap in USDT and USDC charts indicates an inflow or outflow of funds.
Candles are drawn as funds are utilized in the coin market.
USDC's outflow of funds continues.
Therefore, you need to be careful in trading.
The reason that the coin (token) price rises as the funds flow out is because it may be a movement to outflow the funds again.
(USDT.D 1D Chart)
(USDC.D 1D Chart)
Dominance also indicates that when a gap occurs, funds will flow in or out.
Candles are drawn as funds are utilized in the coin market.
Therefore, when the candle shows a decline, it can be interpreted that the coin (token) is being bought in the coin market.
In the opposite case, it can be interpreted as selling coins (tokens).
However, it is highly likely that the charts related to the market cap for stablecoins will show a steady upward trend.
The reason is that funds are flowing into or out of the coin market.
Hope you don't confuse the benefits.
-----------------------------------------------------
(NASDAQ100 1D Chart)
After a period of volatility, it rose to around 11475.5.
The key is whether it can be supported near 11475.5.
If not supported, it is likely to move towards the 10666.6 area.
The next volatility period is around October 14th.
-----------------------------------------------------
(BTCUSDT 1D Chart)
The key is whether the price can hold above the uptrend channel (1) formed by the long-term uptrend line, above 19426.43.
The HA-Low indicator is passing near 19426.43, so if you can sustain the price above that, it is likely to turn into an uptrend.
However, in order to continue the upward trend, it must rise above the HA-High index, so it should rise to around 20798.16 at the current price point.
As mentioned in the description of the perpetual futures chart, the BTCUSDTPERP chart, the 19.4K-20.7K zone requires a quick response.
This means that the price range is large and can move quickly.
As the inflow and outflow of funds in the coin market is in progress, the volatility of the price is likely to increase.
As the price rises, the power of funds is needed to keep the price rising.
However, it seems that the funds in the current coin market are flowing out through USDC, so you need to be careful in trading.
This is because investment companies with strong financial power are likely to increase the price to get more money back if they sell when the price is falling, as the price is more likely to plummet.
Therefore, there is a possibility that the section 21475.02-21838.98 is a turning point.
If the price is maintained beyond this range, altcoins are also expected to show an upward trend.
Otherwise, even a small drop in BTC price is expected to cause altcoins to decline significantly compared to the BTC drop.
Currently, the coin market is forming a very difficult market for short-term and same-day trading in the spot market.
Accordingly, it is necessary to think about ways to increase the number of coins (tokens) by understanding the movement of the coins (tokens) you have.
If you are unfamiliar with same-day, short-term trading, it is better to just check the market flow.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -----------------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
---------------------------------
USDT DOMINANCE ANOTHER BEARISH SCHNARIO!!Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
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 to this chart, Do not consider financial advice.
USDT DOMINANCE UPDATE
USDT DOMINANCE is making this rising wedge pattern but to confirm this pattern dominance needs to break down this pattern confirmation.
After this conform break down of this pattern we can expect a drop up to 17% according to the pattern.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
USDT DOMINNACE: ALL I CAN SEE IS A REJECTION!Hello guys, here's a quick update on USDT Dominance in 6 hours timeframe.
This is going to be an interesting one.
Preview: In our previous update (link in the description), we saw how the dominance broke down below the support level but then again quickly push back in.
Update: This pullback was swift enough to reach close to the upper resistance trendline. From this level, all I can see is a rejection, and this time, I believe it will be a strong one. We may have some higher rallies in the dominance and the market may turn red again but it won't be for long as the Rektember is getting over and the Accutober is coming in, I guess the bulls will turn the table soon.
RSI: The RSI shows some weak hands on the USDT.D as it is forming a bearish divergence pattern.
Key points:
1. 7.88% to 8% resistance level.
2. We are at the end of the 3rd quarter.
3. The beginning of the 4th quarter is at the doorstep.
4. BTC at the $18k support level.
That's it from my end. If you have something to add then feel free to write it in the comment section.
Thank you for all your support and love. We are reaching 1k members soon on Tradingview.
God bless and trade safely.
USDT.D I like to use USDT.D to see when money is moving out of Btc/alts and into stables, gives a good edge on money flow in crypto.
Keeping an eye on this Rising Wedge.
Typically these breakout bearish,
if we get a bullish breakout expecting it to really run.
Hard to call a direction, will wait for one reaction on upper or lower trendline before I will enter any trades with confidence.
Bitcoin (BTC) - September 27Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(USDT 1W chart)
(USDT 1W chart)
(USDT.D 1D Chart)
(USDC.D 1D Chart)
Money flows into or out of the coin market through stable coins such as USDT and USDC.
As proof of that, it can be seen that funds moved to create a gap in the charts of USDT and USDC.
In other words, when the gap rises, USDT and USDC are newly issued and funds flow into the coin market.
When the gap falls, the stablecoins issued by USDT and USDC are converted into fiat currencies, resulting in an outflow of funds from the coin market.
A gap has occurred on the USDT chart and moved higher to around 68.468B.
A gap has occurred on the USDC chart, dropping significantly below 52.246B.
Judging by these movements, we can see that funds from all over the world flowed into the coin market through USDT.
The majority of these funds are likely to be Chinese capital.
In addition, we can see that the funds have flowed out of the coin market in large numbers through USDC.
The majority of these funds are likely to be US capital.
Therefore, it can be seen that a large amount of funds were leaked to the coin market due to bad news from the United States.
It is also necessary to check whether these funds are flowing into the stock market.
US money is likely to come from investment companies.
This is due to the strong movement to link the coin market to the stock market, which is expected to increase the likelihood of significant volatility in the investment market in the future.
As funds flowed out into the coin market, the possibility of decoupling the coin market and the stock market increased, so when the stock market rose, the coin market was more likely to fall.
If it ends with this one transfer of funds, the volatility of the coin market will not cause a panic shell.
However, if more funds flow out of the coin market when additional money flows occur, the coin market is more likely to panic.
As always, we expect the same thing to happen this time around as the money moves first and then the charts are drawn accordingly.
-------------------------------------------
(BTCUSDTPERP 1D Chart)
- If it rises above 20794.4, the main position is 'LONG'.
- The 19424.9-20794.4 section is a quick response section.
- If it falls below 19424.9, the main position is 'SHORT'.
To convert into an uptrend, the price must rise above the minimum uptrend line (1) and hold it.
If not, you should be careful with the trade as it is likely a bearish rebound.
At this time, the key is whether it is supported in the 17670.0-18374.1 section.
If it is not supported, it is expected that it will move towards the 15908.2 level.
Even if BTC rises, as explained above, it is not expected that the uptrend will be large as long as there is a large amount of money outflow from the coin market.
However, if additional funds flow into the coin market through USDT and rise above 68.468B, there is a possibility that the uptrend of the coin market will be maintained.
However, since the funds were outflowed through USDC, the possibility of decoupling the coin market and the stock market has increased.
This outflow of funds further reduces the trading volume and increases the possibility of large volatility.
If the money doesn't come back, the end is most likely a big drop.
Therefore, in this market situation, what we can do is to preserve profit and loss.
If so, selling 100% of all holdings can lead to double losses in the large volatility that will occur in the future, so you should aim.
For large volatility, please refer to the BTCUSDT 1M chart () with the rising and falling rates.
The volatility of BTC is likely to be between -25% and +25%.
Accordingly, altcoins are likely to be between -50% and +50%.
However, the rise rate of altcoins is not expected to be very high, and the decline rate is likely to be even greater.
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
---------------------------------
USDT DOMINANCE: BREAKING DOWN.Hello and welcome to this USDT Dominance update, guys.
This is an important update, so read it till the end.
Preview: In our previous update, we discussed how the yellow dotted line holds good support for the dominance and now finally it is breaking down.
Update: This breakdown is good for the market but we need to keep in mind that, it won't be easy for the USDT.D to drop down towards the lower support level. For now, this big red candle helped the market to push a bit forward. If this breakdown is so good to be true then the market will be good for the bulls.
If you follow me on various platforms then you must know that we have made good profits in our recent trades. Congratulations to all who took the trades.
I will post more ideas later. If you have any thoughts and ideas or want me to share altcoin charts then do share them in the comment section.
God bless.
Bitcoin (BTC) - September 25Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a good day.
-------------------------------------
(BTCUSDTPERP 1D Chart)
- If it rises above 20794.4, the main position is 'LONG'.
- The 19424.9-20794.4 section is a quick response section.
- If it falls below 19424.9, the main position is 'SHORT'.
The question is whether the volatility around September 25 (September 24-26) can move above the uptrend line (1).
If it falls below the 17670.0-18374.1 section, it is expected to drop below 15908.2, so you need to think about how to respond.
The Stoch RSI indicator is rising, but the price is showing a downward trend.
Therefore, when the Stoch RSI indicator starts to show a decline and finds resistance near 19424.9, it is expected that it will lead to further declines.
(1h chart)
If it does not fall below the downtrend line (1), it is expected to rise.
Key points of support and resistance that require a quick response
- 20794.4
- 20122.5
- 19424.9
- 18769.1
- 18374.1
- 17670.0
support and resistance
19424.9-19607.9
19116.5-19226.9
18769.1-18895.1
------------------------------
- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
------------------------------------------------------------ -------------------------------------------
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
---------------------------------
USDT DOMINANCE: BOUNCE BACK.Hello every one, here's an update on USDT Dominance in the same 2 hours timeframe.
Preview: Previously, we discussed dominance making a double top, and having a higher chance to get rejected. Well, the USDT.D did get rejected making a double top. It got rejected close to -7% and currently bouncing back right from the yellow dotted support line.
Update: This support is the exact support level from where the dominance has bounced not only once or twice but thrice and this is the fourth time that the dominance is bouncing back. If this bounce is good to be true then I am expecting a triple top soon if not then the USDT.D have to break down below the support line to be bearish again.
What are your thoughts on this? Do share your ideas in the comments.
Thank you for your support. It means a lot.
God bless and trade safely.
USDT DOMINANCE: DOUBLE TOP PATTERN.Hello traders, this is USDT Dominance.
According to our previous analysis, it broke down below the supporting trendline but then again pull back and currently getting rejected from the resistance level. It is forming a double top pattern which is a bearish pattern. If this chart plays out well then we will see a good green rally in the market.
We will update more on this later until then trade safely.
USDT DOMINNACE: WHAT IF???Hello and welcome to this USDT Dominance update in 3 hours timeframe.
This is a follow-up to our previous dominance update.
Update: In our previous update, we saw how the dominance got rejected by the resistance. After zooming in, we can see a nice rising wedge pattern in the USDT.D which technically needs to get rejected. The only thing that is holding the rejection is the 21 MA which is quite strong.
Talking about the 'What If?' situation, we have two scenarios-
Scenario 1: What if the USDT.D don't reject and bounce back higher? If this scenario takes place then we may see a double top and then a rejection.
Scenario 2: What if the USDT.D gets rejected all the way to 6.6%? This means we will see some good green rallies in the market.
Well, the upcoming few hours will decide the direction of the market. Also, we have the FOMC meeting today at 8:30 AM UTC so let's be extra attentive.
I'll see you guys in our next update until then trade safely.