if usdt.d break the 5% resistance which it will likely try to break it soon, then we can even have a new high for usdt.d and new low for BTC. If it fails to break it then we can see #BTC rise to 80K. Taking a look at the divergence on #USDT.D chart , BTC crash is more likely to happen so don't FOMO and wait.
Last time the RSI for weekly Tether dominance reached 30, it took 119 days before the Bitcoin bull run took a pause and had a big crash.
119 days from dec 4th , is April 1st.
Could that be a local top?
#USDT.D price action analysis(#smart_money):
Support (green) and resistance (red) areas ahead of the movement of #USDT.D that will react upon reaching them. If you pass through any area, the role will change in the area.
As can be seen in the picture, the indices from the exchanges were issued to liquidate the traders, but the resistance of the blue trend line, which is very accurate and of course important, drawn from the candlestick trunks, shows us that the decline continues for the Chart USDT.D
The new update, if you see the previous analysis, I insisted on the drop from a technical point of view, and we can see that it happened well, I hope you have used it.
It broke from the bottom of the triangle, as I expected, we may have a brief upswing due to the break of the bottom of the triangle, and then further decline...
#DOMINANCE UPDATE
In the short-term, a symmetrical triangle pattern is forming within the dominance trend, with the current trading activity occurring above the lower support level. It is important to exercise caution, as a breakout or breakdown of this pattern will confirm the next move in the trend.
Stay tuned
The 50% part of this Kendal that has no shadow and is very important.
We place the loss slightly above the side peak and aim to lower the daily base range
In terms of Mowing Origes, a form of Moving that I coded myself with a numeric setting of 1000, has very clearly shown us the supports and resistances, given the triangle pattern, I expect a drop
If you are familiar with the GUPPY indicator, as soon as you see the picture, you will understand why the candles will pour out, of course, each trader should go ahead with his own personal strategy.
Recurring patterns, it is quite clear that the triangle pattern is formed, and given the behavior of other crypto charts, we can easily see that the decline is continuing for the USDT.D
The USDT Dominance analysis with which we confirmed the growth of the market. It reached the target range of 4%, indicating market growth. The next key area to watch is below 3%, where reactions need to be observed. The 4% level isn't significant, but rather a point where the market structure continues.
When USDT dominance goes down, it means that fewer people...
I suspect that the crypto market will soon correct by at least 20% in the coming weeks. Tether is still at support I can see btc at around 72k at most . Historically when the support line on tether is hit . The market retraces so. We shall see from now to mid April or so if the correction happens. The idea would be invalidated if usdt breaks below support line
