USDT DOMINANCE: A REJECTION.
Hello traders, I hope you all are doing well. Here's a quick update on the USDT dominance.
Timeframe: 12 hours.
Recap: In my previous update, we talked about the USDT.D forming a symmetrical triangle pattern in a daily timeframe. Well, looks like the dominance is leaning towards the downside.
Update: In this 12 hours timeframe, we can see a rejection taking place from the 7.2% resistance level. If it is an actual rejection then I am expecting the dominance to reach down to the lower support level (5.8%). This means a good rally in the market.
We still have 1 hour left for the daily close so, we will wait for that before jumping to any conclusion. This daily close will be interesting to watch so keep a close eye on it and be prepared for some action.
I hope this idea is helpful to you. And as always, thank you so much for your support.
God bless and trade safely.
Timeframe: 12 hours.
Recap: In my previous update, we talked about the USDT.D forming a symmetrical triangle pattern in a daily timeframe. Well, looks like the dominance is leaning towards the downside.
Update: In this 12 hours timeframe, we can see a rejection taking place from the 7.2% resistance level. If it is an actual rejection then I am expecting the dominance to reach down to the lower support level (5.8%). This means a good rally in the market.
We still have 1 hour left for the daily close so, we will wait for that before jumping to any conclusion. This daily close will be interesting to watch so keep a close eye on it and be prepared for some action.
I hope this idea is helpful to you. And as always, thank you so much for your support.
God bless and trade safely.
The USDT.D broke above the resistance level. This breakout doesn't look good for the market.