USDT DOMINANCE: POSSIBLE MOVE.
Hello traders, I hope you all are doing well. Here's a quick update on USDT dominance in a daily timeframe.
We all know that BTC and the other altcoins recently dumped close to 10% and the USDT.D rallied. But here's the catch, the USDT.D rally couldn't surpass the 8.21% where we have the resistance trendline. This rejection could possibly lead the dominance to drop back to 7.13% meaning, BTC and altcoins might have room to make some green. The RSI is at the overbought area so a cool down is soon expected. The only invalidation point is the breakout and close above the resistance trendline.
What's your call on the recent market move?
Do share your thoughts in the comments. Thank you for reading and trade safely.
We all know that BTC and the other altcoins recently dumped close to 10% and the USDT.D rallied. But here's the catch, the USDT.D rally couldn't surpass the 8.21% where we have the resistance trendline. This rejection could possibly lead the dominance to drop back to 7.13% meaning, BTC and altcoins might have room to make some green. The RSI is at the overbought area so a cool down is soon expected. The only invalidation point is the breakout and close above the resistance trendline.
What's your call on the recent market move?
Do share your thoughts in the comments. Thank you for reading and trade safely.
