USDT DOMINANCE: SO CLOSE YET SO FAR.
Hello traders, welcome to this weekly update on USDT dominance. There's a lot going on in the market right now. Manipulation after manipulation, investors losing millions of dollars, traders losing hope, noobs quitting trading, and big players making money taking advantage of their power. This ain't the first time we are going through this situation. After every roar of fear, we have witnessed a calm, and unsound rally. This is the point where we always miss out or realize it later.
Currently, the market trend is bearish, most of the traders have exhausted their funds by either booking huge losses, liquidating their entire portfolio, or by buying every fake dip. By the time the market reaches its absolute bottom, only a handful of traders stay behind to buy the real dip.
Now, you may question whether $15k is the real bottom. Trust me, no one will be able to tell you the bottom. With the help of T.A, we can simply assume a probability of an upcoming possible scenario. That's why we don't consider T.A as financial advice.
Talking about the probability, the USDT dominance is already at the edge of falling down. It may stay at this current range for some time and then move towards the downtrend. Comparing the RSI and the chart, we can clearly notice where the market is heading. We may see some more upward rally in the dominance and I expect it to be below 9.5%. If it breaks above this level then this chart will get invalidated.
I hope this update will be helpful to you.
Keep accumulating and trade safely.
Currently, the market trend is bearish, most of the traders have exhausted their funds by either booking huge losses, liquidating their entire portfolio, or by buying every fake dip. By the time the market reaches its absolute bottom, only a handful of traders stay behind to buy the real dip.
Now, you may question whether $15k is the real bottom. Trust me, no one will be able to tell you the bottom. With the help of T.A, we can simply assume a probability of an upcoming possible scenario. That's why we don't consider T.A as financial advice.
Talking about the probability, the USDT dominance is already at the edge of falling down. It may stay at this current range for some time and then move towards the downtrend. Comparing the RSI and the chart, we can clearly notice where the market is heading. We may see some more upward rally in the dominance and I expect it to be below 9.5%. If it breaks above this level then this chart will get invalidated.
I hope this update will be helpful to you.
Keep accumulating and trade safely.
