Is USDT.D Giving Us a Hint?
Check out my latest blog post for a more in depth analysis:
www.derzzycharts.com...dtd-giving-us-a-hint
As Technical Analysts, we have to use every tool at our disposal. While BTC.D gets a lot of attention in the crypto space, USDT.D can be just as helpful as it trends inversely to BTC. If we look at the two charts side by side, what do we see?
So now we have to ask ourselves which one looks more bullish? Well USDT.D has broken resistance and turned it into support which BTC has failed to do. USDT.D is also on a higher high trajectory which is the main component of an uptrend. Right now BTC is making lower lows which is character of a downtrend. The weight of the evidence is pointing towards USDT.D breaking out to the upside as of right now. If we see USDT.D put in a lower high, we could assume that the trend is changing. But for right now, we can’t fight the trend. Especially since BTC just finished putting in a lower high.
www.derzzycharts.com...dtd-giving-us-a-hint
As Technical Analysts, we have to use every tool at our disposal. While BTC.D gets a lot of attention in the crypto space, USDT.D can be just as helpful as it trends inversely to BTC. If we look at the two charts side by side, what do we see?
So now we have to ask ourselves which one looks more bullish? Well USDT.D has broken resistance and turned it into support which BTC has failed to do. USDT.D is also on a higher high trajectory which is the main component of an uptrend. Right now BTC is making lower lows which is character of a downtrend. The weight of the evidence is pointing towards USDT.D breaking out to the upside as of right now. If we see USDT.D put in a lower high, we could assume that the trend is changing. But for right now, we can’t fight the trend. Especially since BTC just finished putting in a lower high.
Comment:
Looks to be breaking out. Watch out for new highs!
