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.