USDT DOMINANCE UPDATE: BE CAREFUL!!!
Hello guys, welcome to the USDT.D update.
The dominance has dropped to the 4% support level as expected. We need to be extra careful here as this is the decisive moment for the entire market. The chart is pretty simple and clear on what could happen next.
Here are the two scenarios that could possibly take place.
Scenario 1: The USDT.D could bounce back like it did in the past and can rally back to 4.85%. This would mean that BTC and the entire market will dump once again.
Scenario 2: The USDT.D could break down further towards 3.8% to 3.6% which will surely give enough room for BTC and other altcoins to rally higher.
Okay, but which scenario suits the best?
Well, in order to get a clear confirmation we need to pay attention to the following things:
1. Support level: 4% is strong support for the USDT.D and I have already explained this in my previous update.
2. BTC and other Altcoins: BTC and almost every altcoins are on the bullish side of the market. It must calm down in order to maintain a good balance in the market.
3. RSI: If you pay close attention to the RSI then for USDT.D, it is already at the oversold range but for BTC and other altcoins, the RSI is at the overbought range.
What do you think about the USDT.D and the market? Do share your thoughts. I will be happy to read them.
More updates coming in.
The dominance has dropped to the 4% support level as expected. We need to be extra careful here as this is the decisive moment for the entire market. The chart is pretty simple and clear on what could happen next.
Here are the two scenarios that could possibly take place.
Scenario 1: The USDT.D could bounce back like it did in the past and can rally back to 4.85%. This would mean that BTC and the entire market will dump once again.
Scenario 2: The USDT.D could break down further towards 3.8% to 3.6% which will surely give enough room for BTC and other altcoins to rally higher.
Okay, but which scenario suits the best?
Well, in order to get a clear confirmation we need to pay attention to the following things:
1. Support level: 4% is strong support for the USDT.D and I have already explained this in my previous update.
2. BTC and other Altcoins: BTC and almost every altcoins are on the bullish side of the market. It must calm down in order to maintain a good balance in the market.
3. RSI: If you pay close attention to the RSI then for USDT.D, it is already at the oversold range but for BTC and other altcoins, the RSI is at the overbought range.
What do you think about the USDT.D and the market? Do share your thoughts. I will be happy to read them.
More updates coming in.
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