USDT Dominance continues to look weak. Last update I gave was around the retest of the major trendline that started formed in late 2018 when BTC crashed to $3100. Back then USDT dominance started to pick up as alts got decimated even though BTC did find a bottom there. USDT Dominance bottomed around 0.85% at that time.
Now here we are where USDT Dominance is at 5.6% which is about 6x higher than the bottom, and BTC is 1920% higher. How can that be? Alts. Alts haven't even started to recover yet. This will change in the coming months. There's no knowing when it's going to start, but that retest I outlined should have been an indicator that USDT dominance is going to move down.
I'm watching other indications such as BTC.D to give an indcation when alt season is going to start. Full disclosure, I have invested the capital I want to put on the line into alts.
As I've stated many times previously, crypto trading is risky and only a small portion of your net worth should be invested in crypto if you're interested in this market. Watch out, though, because if this chart is right, we will see USDT.D go down to at least 2.00% and possibly even lower. Only time will tell.
Now here we are where USDT Dominance is at 5.6% which is about 6x higher than the bottom, and BTC is 1920% higher. How can that be? Alts. Alts haven't even started to recover yet. This will change in the coming months. There's no knowing when it's going to start, but that retest I outlined should have been an indicator that USDT dominance is going to move down.
I'm watching other indications such as BTC.D to give an indcation when alt season is going to start. Full disclosure, I have invested the capital I want to put on the line into alts.
As I've stated many times previously, crypto trading is risky and only a small portion of your net worth should be invested in crypto if you're interested in this market. Watch out, though, because if this chart is right, we will see USDT.D go down to at least 2.00% and possibly even lower. Only time will tell.
CE - BitDoctor
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CE - BitDoctor
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
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.