BTC – Will USDT sale ignite rally on BTC? Safe buy above $7400

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi Traders!
We all have seen this massive sale on USDT. This is due to the fact USDT started declining its value towards USD (or other way round ;)).
It reached 0,85 level at its minimum.
Right now ex. rate is around 0.93 so USDT is restoring its value.
USDT situation is not clear and one might say USDT is rather doggy.
The amount of USD which should be backing USDT in the bank is still unknown.
Actually they declare they owe this money but they don’t allow to make a legit audit – why?
Their deposit is supposed to be made in Noble Bank.
Media report that there are a strong (business) connections between chiefs of Bitfinex, Tether and Noble Bank.
So anyway USDT was pretty stable – not perfectly but someone had to maintain its value over the time using real money. Period.
Will it ignite a BTC rally. Hopefully yes. On other crypto exchanges, today's gain was not that spectacular but it is present.

Technical analysis details:
• 3 resistance lines drawn from the previous heights were broken
• We have drawn 4 (9, 21, 50, 100) VWEMAs. 3 out of 4 were broken. Still, one to go VWEMA100
Ichimoku Cloud – waiting for a couple of more bars over TenkanSen
• Weis Waves – 2nd bar in the last wave significantly higher comparing to 2nd bars in other waves
• Previous heights make resistance lines right now - they are levels to break
ABC Wave might give a possible way for the trend reversal. Safe buy would be above $7400

So Guys! As we many times said: The real change of the trend will be when we cross $7400 level (marked on red).
Keep follow us in order not to miss an update!
Thank you for being here.
WBM Team
Comment: USDT/USD
Comment: Got stuck under TenkanSen. Not much volume - correction possible.
Comment: One more time on 4H interval.

Related Ideas

usdt / usd: most massive sell of all times though
and btc/usd: if 7400 at ll the other exchanges get passed, not on bitfinex. 500 $ difference because bitfinex stopped paying out in us dollar.
shoud we not rather be scared and get out bitfinex?
WBM_Team ttk100
@ttk100, panic is the worst counselor
ttk100 WBM_Team
@WBM_Team, better safe than sorry.
WBM_Team ttk100
@ttk100, safe buy over $7400 as in the title
ttk100 ttk100
but i am cuaght in margin. fortunetly, usdt goes up again. btw, if the usdt problems kille kitfinex it will kill poloniex etc. and that´s not what the leaders would want I hope
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