Next to getting rid of your losers and riding for as long as possible the winners, patience is one of the most imporatnt virtues you can have when it comes to cryptocurrency trading.
Patience is truly the key to win.
When USDT.D was oversold on the RSI, it went up. As USDT.D gets to overbought, it is very likely to drop.
The immediate resistance on this index is set at 7.51% followed by 7.85%.
The 7.51% is the main one for us and we are bearish here. If this level fails there is still more resistance overhead.
USDT.D and BTCUSD have an inverse correlation and that is why we track this index everyday.
It can be used for confirmation.
If you see a bullish BTC, you can confirm your bias if you also see a bearish USDT.D.
A bullish SPX supports any bullish signals found on BTCUSD, etc.
There are many different altcoins, indexes, pairs, charts that can be used in this manner, for comparison purposes.
Yes, indeed, they have an inverse correlation. Looking at your posted chart, we need a break of the up chennel for confirmation. Anyway, it looks like we have a top. Thanks for posting
Looking at your posted chart, we need a break of the up chennel for confirmation.
Anyway, it looks like we have a top.
Thanks for posting