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Welcome to this USDT DOMINANCE update.
Why, I'm expecting a relief rally in the market? Here's the reason-
1) USDT Dominance is trading inside a channel in the 8hr time frame. Currently, it is rejecting from the upper trendline of the channel which is a good sign for the market. 2) Last two times it's got rejection from the same level so I'm expecting the same this time also. 3) It is forming a bearish divergence in RSI.
If we get the prefect rejection from here then we have an important support level at 4.30-4.44 level (BTC 44k-48K) which is a very crucial level. If we break this support level then we expect a big pump in the market.
Let's see how this goes.
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