USDT.D looking bearish and good for the rest of the market
USDT.D
1W/2D Charts
USDT dominance continuing to look bearish here as I mentioned back in early Feb.
Rejecting from the previous high and in a weekly supply zone. Refining further price has rejected from daily supply with a nice rejection wick and a bearish weekly close.
Market structure has changed putting in a lower high and now looking to put in a new lower low. Lots of downside potential into the lows taking out the trend line liquidity.
RSI is bearish having lost the MA on 2D chart which on the last 3 occasions has started the downtrend in USDT.D and uptrends within the market for BTC and altcoins as shown by the black arrows and callouts. Also showing bearish divergence on the RSi and weekly MACD starting to converge.
Looking good here imo, the dynamics look to be shifting and money flow exiting stables and into the market.
Id still be cautious given the macro economic POV but the TA looks great here. As I’ve been saying, coins have been in weekly lows and demand zones and good for DCA buys which I’ve been doing on some coins.
1W/2D Charts
USDT dominance continuing to look bearish here as I mentioned back in early Feb.
Rejecting from the previous high and in a weekly supply zone. Refining further price has rejected from daily supply with a nice rejection wick and a bearish weekly close.
Market structure has changed putting in a lower high and now looking to put in a new lower low. Lots of downside potential into the lows taking out the trend line liquidity.
RSI is bearish having lost the MA on 2D chart which on the last 3 occasions has started the downtrend in USDT.D and uptrends within the market for BTC and altcoins as shown by the black arrows and callouts. Also showing bearish divergence on the RSi and weekly MACD starting to converge.
Looking good here imo, the dynamics look to be shifting and money flow exiting stables and into the market.
Id still be cautious given the macro economic POV but the TA looks great here. As I’ve been saying, coins have been in weekly lows and demand zones and good for DCA buys which I’ve been doing on some coins.
