TradingView
mshrmmn
Dec 17, 2022 8:21 AM

USDT Dominance going up to channel Short

Market Cap USDT Dominance, %CRYPTOCAP

Description

Should this occur and reject, will treat it as a "Blow-off Top", signaling capitulation dump and bottom on underlying crypto assets.

For now, I wouldn't long crypto assets, unless they show clear combinations of bullish factors (structure breakouts, bull news, increasing volume, etc).
Comments
MG1986_
Are you short? Then you said it’s going up?
mshrmmn
@MG1986_, this is the chart for USDT dominance. Normally when USDT.D goes up, crypto assets lose value, as more and more traders scale down to USDT thus increasing it's market dominance.
More