Are you still looking for reason that are behind Bitcoin's (BTCUSD) January rally? We have analyzed in the past a number of key factors that aligned perfectly and set the stage for this great start to 2023.
On the current analysis you don't have to look beyond the USDT market cap dominance (USDT.D) for a driver to this rally. As you see on the 1W time-frame, the USDT.D got rejected on its historic Higher Highs trend-line. In the previous two such encounters, that initiated very strong rallies on BTC. The fractals are identical and it appears that on a long-term perspective the current rally has only just started.
What do you think? Has it only just began? Feel free to let me know in the comments section below!
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Nice! Love to see relevant charts posted. USDT very relevant... Up Up and Away... Sorry Ray Dalio...
NoaTrader
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the first movement in 2019 is very like the current situation of the market cause of spending a long down trend since the 20K ATH, but I don't think the second one at 2020 is very comparable to the current situations of the market we have cause of the market conditions and passing the previous ATH at 20K. Take a look at this: tradingview.com/script/7qxZBu43-Bitcoin-Long-Time-Cycle-Detection-RGB-Box/
There was also a news report out a couple of days ago said the BTC rally might be because people are dumping the Binance stable coin thinking FTX might attract an investigation into Binance.
simpsonepic1a
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Thanks for info but dont get to existed supoort is still 15k