Bitcoin Market Trend vs USDT Dominance Charts
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USDT Dominance: one of the most important charts I've ever analysed.
Indicators forecast an upcoming drop in USDT dominance which indicates continuation in the crypto bull trend. Most likely scenario is we see another drop and then we keep going up. Another possible scenario is we keep going up from now on. I give the 1st scenario a 70% chance of happening.
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First scenario looks like a repetition of previous patterns formed within different cryptos in the last weeks. Bitcoin, Litecoin, EOS among others showing the same channel. They all broke down the pattern in a similar fashion and I expect USDT dominance will do the same.
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BTCUSDT chart. Showing how the uptrend channel broke downwards.
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EOSUSD showing similar patterns to the ones described above.
I'll be updating accordingly.
Indicators forecast an upcoming drop in USDT dominance which indicates continuation in the crypto bull trend. Most likely scenario is we see another drop and then we keep going up. Another possible scenario is we keep going up from now on. I give the 1st scenario a 70% chance of happening.
--
First scenario looks like a repetition of previous patterns formed within different cryptos in the last weeks. Bitcoin, Litecoin, EOS among others showing the same channel. They all broke down the pattern in a similar fashion and I expect USDT dominance will do the same.
--
BTCUSDT chart. Showing how the uptrend channel broke downwards.
--
EOSUSD showing similar patterns to the ones described above.
I'll be updating accordingly.
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