USDT.D trade ideas
USDT.DUSDT Dominance has apparently completed its downward movement in the 4-hour time frame.. which has been completed in the form of an impulse that can be considered wave A or 1.. which of course we have named wave A for now..
In the following, an upward phase can be completed in the form of wave B. Based on this, we can expect growth up to 5% and even higher levels. Time 4 hours..
USDT Dominance just failed and doing BTC a huge favor!On this chart we see a major development on the USDT Dominance (USDT.D). It formed its first ever Death Cross on the 5D time-frame, with the MA200 (orange trend-line) turning into Resistance since the start of February.
That has never happened in its history and as you can see, when USDT.D declines, Bitcoin (black trend-line) rallies, which has been doing so aggressively since early October 2023.
This is a sign that the current rally on BTCUSD might be far from over and if anything can even be much more aggressively than we initially thought.
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USDT.D 4H analysis - May 04 2024it's logical and wise to assume that USDT dominance might face some support in 4.8% area followed by a small rise which shall cause some small correction/dump in BTC and the market. of course the other scenario is that 4.8% area breaks and USDT.D drops to next level of support (4.6%).
ALERT :Tether Dominance Falls and Enters DowntrendTether Dominance Falls and Enters Downtrend: Potential Boost for Bitcoin and Other Cryptocurrencies
Key Points:
Tether dominance has fallen and re-entered a downtrend.
This could lead to an increase in the price of Bitcoin and other cryptocurrencies.
If you have any short or sell trades, it may be best to exit as soon as possible.
Tweet:
Tether dominance falls and enters downtrend, potentially boosting Bitcoin and other cryptocurrencies. Exit short or sell trades ASAP! #Bitcoin #Crypto #Tether
Explanation:
Tether dominance: This refers to the percentage of the total cryptocurrency market capitalization that is held by Tether (USDT). A decrease in Tether dominance suggests that investors are moving their money into other cryptocurrencies, which could put upward pressure on their prices.
Downtrend: A downtrend is a technical analysis pattern that indicates that the price of an asset is likely to continue falling.
Short or sell trades: Short sellers borrow an asset and sell it with the expectation that they can buy it back at a lower price in the future. Sell traders simply sell an asset that they already own.
Exit short or sell trades: This means closing out your short or sell positions to avoid potential losses.
#USDT.DOMINANCE 1DAY UPDATE !!USDT DOMINANCE ANALYSIS
USDT.D is forming a rising wedge pattern, nearing the support trendline. MACD crossover suggests a potential bearish turn.
A sustained wedge breakdown confirms a bearish trend; a bounce suggests consolidation within the pattern. USDTD typically moves inversely to the crypto market.
I have tried to bring the best possible results in this chart.
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