Hello traders, I hope you guys are doing well. Here is a quick update on USDT dominance.
Timeframe: 1 day.
Recap: In my previous video, I mentioned 7% to 7.13% as resistance levels. According to the chart, the dominance reached 6.9% and then a slight rejection.
Update: To confirm an actual drop in the USDT.D, it has to break below two important levels- 1. The 21 MA at 6.2%, and 2. 5.7% support level. Now, if the dominance drops to 5.7%, it will be more than enough for BTC and other altcoins to gain a good rally. And if this H&S pattern is so good to be true then we will witness a good rally in the market.
Key levels: 21 MA and 5.7% support level.
I hope this update was helpful. Do like, share, and comment. I would love to know your ideas on this one.