The analysis of the USDT MarketCap can indicate potential tops and bottoms in the crypto market.
For those who don't know, Money flows in crypto from USDT or any other pair of digital fiat (USDC) to BTC and the remaining ALT coins.
So this chart basically shows traders flipping from crypto to USDT or vice versa…
The Red Support line at the bottom of the channel shows us that whenever BTC reaches a new top she will touch that line and drop or either consolidate at range creating new highs consecutively for a specific amount of time.
Same thing for the Resistance Green line at the top which indicates that Addresses with USDT has reached a new high while BTC shows us a clear bottom when you compare both charts with their exact dates.
The RSI indicator at the bottom has created clear support and resistance and is currently telling us that a potential reversal might show up anytime soon with the indicator reaching its resistance.
Buying the greens and selling most of my holdings on red
For those who don't know, Money flows in crypto from USDT or any other pair of digital fiat (USDC) to BTC and the remaining ALT coins.
So this chart basically shows traders flipping from crypto to USDT or vice versa…
The Red Support line at the bottom of the channel shows us that whenever BTC reaches a new top she will touch that line and drop or either consolidate at range creating new highs consecutively for a specific amount of time.
Same thing for the Resistance Green line at the top which indicates that Addresses with USDT has reached a new high while BTC shows us a clear bottom when you compare both charts with their exact dates.
The RSI indicator at the bottom has created clear support and resistance and is currently telling us that a potential reversal might show up anytime soon with the indicator reaching its resistance.
Buying the greens and selling most of my holdings on red
