After counting many waves for many days, I have a senario for USDT dominance which will lead the entire market on its way.
For those whose not fimiliar with this parameter, there is a very simple explanation.
It's the reversed way to see the market. If this parameter drops, your alts will skyrocket and if it rises, you're gonna be crying on somebody's X post's comments.
First of all, the short term wiev is bearish. We are currently in an impulsive wave 3 which is expected to be hardest for altcoins at the moment. There will be crash unless the value of this parameter drops below %4.50 and invalidates the analysis (you'll like this senario better, trust me).
All right, we got rid of the scalpers who bothered to read this far and now I'm here to explain what I see for the golden future.
Currently, USDT.D is forming a BEARISH impulsive wave for higher time frames. As long as you stick with 4H candles, you won't be able to see it.
USDT.D is trying to forming its bearish flag, by doing so it will be its second wave and will prepare its very own collapse.
Last summer, BTC has done the same thing (Check for daily time BTC).
There is more.
If we calculate the depth of this incoming flag pattern, breaking this flag would lead USDT to %3.75 which is the yearly support (Check in weekly, you'll see it).
If we calculate the time needed to past for this flag to work, it's the same amount of time needed for previous flag to break from last summer.
We also need to add fundementals in it. Currently people started to talk about a senario which will lead world to WW3. I don't think that will happen. But the problem in here is it will market throguh downside.
Furthermore, there is FED.
FED is insisting to leave interest rates on its own without a change. I believe that we won't be seeing any rate cuts till the end of this summer.
I believe that the FED will cute rates between Agust and September. This will be the fuel for our rocket to fly and ignite the wave 3.
I know it's a long script but you know it's necessary.
Thanks for reading.
For those whose not fimiliar with this parameter, there is a very simple explanation.
It's the reversed way to see the market. If this parameter drops, your alts will skyrocket and if it rises, you're gonna be crying on somebody's X post's comments.
First of all, the short term wiev is bearish. We are currently in an impulsive wave 3 which is expected to be hardest for altcoins at the moment. There will be crash unless the value of this parameter drops below %4.50 and invalidates the analysis (you'll like this senario better, trust me).
All right, we got rid of the scalpers who bothered to read this far and now I'm here to explain what I see for the golden future.
Currently, USDT.D is forming a BEARISH impulsive wave for higher time frames. As long as you stick with 4H candles, you won't be able to see it.
USDT.D is trying to forming its bearish flag, by doing so it will be its second wave and will prepare its very own collapse.
Last summer, BTC has done the same thing (Check for daily time BTC).
There is more.
If we calculate the depth of this incoming flag pattern, breaking this flag would lead USDT to %3.75 which is the yearly support (Check in weekly, you'll see it).
If we calculate the time needed to past for this flag to work, it's the same amount of time needed for previous flag to break from last summer.
We also need to add fundementals in it. Currently people started to talk about a senario which will lead world to WW3. I don't think that will happen. But the problem in here is it will market throguh downside.
Furthermore, there is FED.
FED is insisting to leave interest rates on its own without a change. I believe that we won't be seeing any rate cuts till the end of this summer.
I believe that the FED will cute rates between Agust and September. This will be the fuel for our rocket to fly and ignite the wave 3.
I know it's a long script but you know it's necessary.
Thanks for reading.
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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.
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.