The market is currently entering a well-anticipated minor bearish phase. Many altcoins have formed bearish price action patterns, and several indicators are signaling that a stronger downward movement may be imminent.
So far, the USDT.D chart has been very reliable, and its daily bearish outlook remains intact. Of course, the market cannot always stay bullish — a correction here is both expected and necessary to maintain balance.
As mentioned in my previous analysis, many alts are already starting to weaken. USDT dominance looks ready to break down a key trendline, which could trigger even more sell-offs. Keep an eye on the 4.50% level — this should be the first area to consider taking profits from short positions.
Bonus: This weekend, a significant amount of staked ETH will be unlocked. Once released, selling pressure is likely, which could lead to a sharp correction in ETH.
Good luck.
So far, the USDT.D chart has been very reliable, and its daily bearish outlook remains intact. Of course, the market cannot always stay bullish — a correction here is both expected and necessary to maintain balance.
As mentioned in my previous analysis, many alts are already starting to weaken. USDT dominance looks ready to break down a key trendline, which could trigger even more sell-offs. Keep an eye on the 4.50% level — this should be the first area to consider taking profits from short positions.
Bonus: This weekend, a significant amount of staked ETH will be unlocked. Once released, selling pressure is likely, which could lead to a sharp correction in ETH.
Good luck.
Trade active
If you had short positions, move your stoplosses to breakeven levels. USDT at the supply box right now.Trade closed: target reached
The chart will be updated soon.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.