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USDT DOMINANCE SPIKE: RELIEF RALLY SOON FOR ALTS/BTC?

CRYPTOCAP:USDT.D   Market Cap USDT Dominance, % (CALCULATED BY TRADINGVIEW)
USDT Dominance measures USDT market cap against all other coins. While not as potent as BTCD or TOTAL2 , it can be a helpful indicator to know what traders are doing, as many of them use USDT over fiat.

Obviously, when BTC sells off, USDTD spikes. Based on a little TA, we might expect a relief rally for the market soon. USDT is basically at resistance, but it did put in a slightly higher high. Recent volume is decreasing, signaling a reduction in selling pressure.
RSI is nearly at Overbought levels (which would be considered oversold for the rest of the market)

Just remember - When you think BTC can't go any lower... it always can.

Happy trades,
CD
Comment: This played out exactly as I predicted