Market update: Relief or more Dump?USDT dominance is currently hitting three major resistance levels:
1. 100 EMA (blue)
2. 50 SMA (red)
3. 8-month-old trendline resistance (blue)
This confluence of resistance makes this level crucial. Taking into account the channel breakdown and retest, a rejection seems more likely at the moment, suggesting a potential market relief rally.
Invalidation:- Close above the red zone.
dyor, nfa
Do hit the like button if you like it and share your views in the comment section.
Thank you
#PEACE
USDT.D trade ideas
USDT DOMINANCE UPDATE (4H)From where we put a green arrow on the chart, it looks like a bearish triangle is forming on the chart.
Now we seem to be in wave E of this triangle.
In the red box, this E wave can end and we can witness the drop dominance tether.
The targets are clear on the chart.
Closing a daily candle above the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Let me explain the "USDT DOMINANCE" impulse wave perspectiveHello, friends. Nice to meet you
I'm going to tell you about the USDT domination that shows the direction of Bitcoin and Altcoin
Based on the impulse wave, we expect to be making 5 waves now, and we expect the target to reach 3.35% to 3%.
The waves look very pretty, and you can now trade by referring to this chart
Bitcoin and altcoins fall as usdt.d rises
Bitcoin and altcoins rise when usdt.d falls.
Make sure you remember
USDT.D :It has entered the supply zone, but today you want to open a position, reduce the risk and reduce the stop and make it smaller
Today, we can't get much entry from the Dominance Tether Trigger, the downward trend of the market is stronger, which means that the coins themselves give you a position more easily, especially a short position.
USDT.D A Closer Look updateIn an ideal world this should be an area where we can start buying some Good Altcoins like ETH, APT, BLZ, TIA and so on… but as you all know there’s always error sometimes in price action, that is why DCA is important. Back to the main topic, i do see this coming to reality and i marked two new areas where we should expect immediate reversal from there since we have already taken high of the range.
USDT.D viewTether is forming a chart with a huge trend line
You can see that by looking at the chart right above
This has never been broken since Tether formed
And Tether has an inverse relationship with BTC
If you look LTF chart
you can see the channel and leading diagonal
like this
and supported on 61.8% retracement
you can see the box area and the place where it explodes is the direction
if USDT.D go down
red zone will be the good support zone
Anyway, we have to respond with an upward perspective
USDT.D analysis - June 10 2024Followed previous analysis (May 27) and another retest of the 4.5% - 4.6% area took place. but the subsequent drop failed to create a new low below 4.33% level (due to the recent NFP data)!
here's the new analysis:
two important levels have been identified which are 4.33% and 4.63% .
Crossing below 4.33% is bullish for #BTC and other coins while crossing above 4.63% is bearish for the market (identified by color Red).
Scenario with higher possibility:
#USDT.D is about to break the blue channel from above. Once done , crossing above 4.63% - 4.67% will probably activate the target area of 4.82% - 4.96% (which can cause BTC to dump towards 62K-63K zone)
under no circumstances should it cross above 5.11% level as it can damage market's bullish structure! #CRYPTO
Here's the next good short on a platterThe trend support on USDT.D linear weekly has been the top indicator for BTC for 15 years. However, USDT.D has never been under it's 200 EMA on this TF before so proceed with caution. It's highly unlikely we break this trend and EMA's are lagging indicators but TA is an if/then proposition so use stop losses wisely. If it breaks I guess Tether dominance going to 0% and moonbois will be losing their minds...LOL