USDT Dominance Inverse H&S Indicating Potential BTC Dump!
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Hello everyone,
As anticipated, market volatility has increased. Given the current market conditions, it was already advised to avoid long positions in futures in our community.
There's a growing likelihood of a Bitcoin pullback due to the formation of an inverse head and shoulder pattern in USDT dominance. Additionally, a breakout from a triangle pattern on the hourly timeframe suggests potential short-term weakness in BTC.
While a retest is possible, a larger downward move for Bitcoin is probable in the higher timeframes.
Key Points:
USDT Dominance: Forming an inverse head and shoulder pattern.
Hourly Chart: Triangle breakout indicates potential weakness in BTC.
USDT dominance upper resistance: 6.56%
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Hello everyone,
As anticipated, market volatility has increased. Given the current market conditions, it was already advised to avoid long positions in futures in our community.
There's a growing likelihood of a Bitcoin pullback due to the formation of an inverse head and shoulder pattern in USDT dominance. Additionally, a breakout from a triangle pattern on the hourly timeframe suggests potential short-term weakness in BTC.
While a retest is possible, a larger downward move for Bitcoin is probable in the higher timeframes.
Key Points:
USDT Dominance: Forming an inverse head and shoulder pattern.
Hourly Chart: Triangle breakout indicates potential weakness in BTC.
USDT dominance upper resistance: 6.56%
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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