USDT.D
- Looks like we're in for a bullish term on the crypto market!!
Since January 2022 the USDT.D (which serves as a very important factor in deciding the direction of the overall cryptocurrency market) has been on a continuous uptrend until May where it started forming a hidden RSI divergence on the daily timeframe as shown on the chart above. To confirm this a higher peak was formed at 9.49% on the the 18th of July along with a lower RSI trend compared to the previous peak at 7.27% on 12th May.
As of 13th July the daily candlestick closed bearish, engulfing the previous candlestick despite the U.S CPI data release which was very poor. I'm looking forward to a more bullish trend on the overall crypto market along with a steady increase in momentum in general.
- Joel
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