Teather dominance is used as gauge to inverse the prices of
BTC
& #altcoins. When
USDT.D
drops it is bullish for the entire crypto space and when it pumps it is bearish.
Right now the downtrend is breaking below a channel that I have marked off since 2018. That means this channel has been in play 6 years. Right now the candles are breaking below the bottom TL in what I have labeled a 5 wave bearish declining sequence. The significance of this is move is important.
The bottom TL has been the top of all bull markets since 2018 and we are currently breaking below that level with no real support in sight until 4% then 2%. This means that the bears have officially lost. It's game over now. Bull market is here and it looks big since this channel has been bear market support since 2018.
BigMike loves you all let the party begin.
BTC
& #altcoins. When
USDT.D
drops it is bullish for the entire crypto space and when it pumps it is bearish. Right now the downtrend is breaking below a channel that I have marked off since 2018. That means this channel has been in play 6 years. Right now the candles are breaking below the bottom TL in what I have labeled a 5 wave bearish declining sequence. The significance of this is move is important.
The bottom TL has been the top of all bull markets since 2018 and we are currently breaking below that level with no real support in sight until 4% then 2%. This means that the bears have officially lost. It's game over now. Bull market is here and it looks big since this channel has been bear market support since 2018.
BigMike loves you all let the party begin.