Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
I always keep an eye on USDT.D to gauge the overall crypto market sentiment.
📚 Today, I want to demonstrate the correlation between BTC and USDT.D:
- Last month, BTC broke above the previous major high (shown in blue), while USDT.D broke the previous major low and initiated an impulse movement.
- BTC is currently fluctuating within a narrow range around the $53,000 resistance level, while USDT.D is hovering around the 5% support level and the round number.
- BTC is expected to maintain its bullish trend unless it breaks below the last major low at $50,500, which would correspond to USDT.D dropping below 5.29%.
And so on... the picture is self-explanatory.
The question is... Who Follows Whom?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich