Disclaimer
High Risk Investment
Trading cryptocurrencies and Forex carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial...
usdt dominance is preparing for a short ride down to almost 4.0% which is a key factor for the possible incoming bull run for the bitcoin and the Alt season
good luck every one :)
Disclaimer
High Risk Investment
Trading cryptocurrencies and Forex carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial...
This is the second possibilitity of last analysis.on this situation the hole diametric is the wave E and by breaking the down trendline(which is red) we have the confirmation for crypto party.
So if the diamond diametric confirmed I will but altcoins and btc and my stoploss will be too small becouse the is a possibility for the first scenario!
There is 2 possibilities for theter dominance.
In both we are in a big triangle and this is the end wave.
This is a first way of it
It is on aa first branch of wave E and this branch is diamond diametric. This correction can continue for the up trendline of triangle. By crossing the down trend of triangle we have a confirmation for a party on crypto market.
From my point of view, the next move of the market cap is to continue the rise until it is determined, and obviously, if it reaches its level, the bit can have a slight decline, and then the bit will start the upward movement, and this possibility will be updated again.
The USDT dominance has recently made a jump from 7.7% to 8.4% and this jump could go even higher up to 9.2% according to this 3-day TF analysis. The pattern that USDT dominance is forming here is a typical rising wedge pattern that is technically bearish.
This signifies two major scenarios for BTC-
1. In the short term: We may see another drop in the market...
We got stuck at 8.29. We had a line on the chart for a long time. At the moment, you are overbought. I will not open a position. After 8.27, open a short position.
First of all you should know that "USDT Dominance" is always moving inverse of BTCUSDT .
Taking more time, we came across signs that USDT's dominance is about to rise.
We have two TPs that we have marked on the picture.
Increasing Tether dominance will mean the fall of Bitcoin and altcoins.
on 1D chart we see clear uptrend of USDT Dominance. we saw touch on support area and broken down trendline only what we are waiting confirmation from buyers on that LVL. on 1H timeframe chart show us double bottom, only what I waiting brake 7.50% LVL then I will open long position. if we see bull run on USDT Dominance that mean BTC will go deep down and continue...
As you can see, the price has reacted well to the floor, ceiling and midline of the channel. Even in lower time frames, for example four hours, it is well visible. This analysis can be very effective for predicting the future of Bitcoin and the cryptocurrency market
