USDT DOMINANCE: THE ADRENELINE RUSH.
Hello traders, I hope your days are going well. Here's a weekly update on USDT Dominance.
If you really want to know the next coming move then do read the content.
The USDT.D has again landed in such a scenario where you get the adrenaline rush to know what will happen next. Look at the chart, and you will understand what I am talking about. This is a precise straight-end scenario to decide whether we are actually entering the bull run or will continue with the bear market.
Now, this is not the first time for USDT.D to land in this situation. If we backtest then you'll notice that after a strong rejection on June 2022, the USDT dominance was taking a bearish turn but the 21 MA kept its hold pretty strong, and till today it does a pretty good job.
Coming back to the current scenario, the picture is pretty clear.
1. Either a bounce back possibly the last bounce towards 9.5% before the bull run begins, followed by rejection. This means more correction in BTC and other altcoins.
2. A breakdown and weekly close below the 21 MA confirming a strong rejection will possibly be a strong sign of a bull run. Meaning, BTC and other altcoins will rally.
Conclusion: I don't mind if the USDT dominance bounces back from the current support level. I will happily consider this as an accumulating opportunity. And if it breaks down, I will be satisfied to know that the possibility of good days is near. In both scenarios, we are in a win-win situation only if we don't get stuck in a bad trade.
That's all I have to say regarding the USDT dominance. I hope that this update will be helpful to you to make better decisions.
Thank you so much for all your support and love towards my tiny bit of contribution. It means a lot. God bless you all.
If you really want to know the next coming move then do read the content.
The USDT.D has again landed in such a scenario where you get the adrenaline rush to know what will happen next. Look at the chart, and you will understand what I am talking about. This is a precise straight-end scenario to decide whether we are actually entering the bull run or will continue with the bear market.
Now, this is not the first time for USDT.D to land in this situation. If we backtest then you'll notice that after a strong rejection on June 2022, the USDT dominance was taking a bearish turn but the 21 MA kept its hold pretty strong, and till today it does a pretty good job.
Coming back to the current scenario, the picture is pretty clear.
1. Either a bounce back possibly the last bounce towards 9.5% before the bull run begins, followed by rejection. This means more correction in BTC and other altcoins.
2. A breakdown and weekly close below the 21 MA confirming a strong rejection will possibly be a strong sign of a bull run. Meaning, BTC and other altcoins will rally.
Conclusion: I don't mind if the USDT dominance bounces back from the current support level. I will happily consider this as an accumulating opportunity. And if it breaks down, I will be satisfied to know that the possibility of good days is near. In both scenarios, we are in a win-win situation only if we don't get stuck in a bad trade.
That's all I have to say regarding the USDT dominance. I hope that this update will be helpful to you to make better decisions.
Thank you so much for all your support and love towards my tiny bit of contribution. It means a lot. God bless you all.
