USDT DOMINANCE UPDATE IN SHORTER T.F...
Welcome folks to my new update on USDT DOMINANCE. I am gonna use 8 hours timeframe to explain to you the current and upcoming possible scenarios.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
In a higher frame, we saw that USDT.D was close to the resistance area and we are expecting a rejection coming in soon. In the 8 hours timeframe, the current range is at the 21 MA support level (4.64%). As you can see that the USDT.D after bouncing back from the lower supporting trendline is already 20% up and it is yet to hit the upper resistance trendline. Looking into the technical aspect, the RSI, and the chart movement, the USDT.D can possibly rally higher towards the 5% resistance level. This could mean that BTC and other altcoins will drop a little bit more.
On the other hand, if the USDT.D gets rejected from the 21 MA then we can expect the dominance to fall up to the support level. This could mean a good rally in BTC and other altcoins.
In both ways, USDT dominance will reject and this could be a good opportunity to make some profits.
What do you think about the USDT dominance? Do you think it will get rejected or will it make a jump from here?
Do like and follow for more updates.
Thank you.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
In a higher frame, we saw that USDT.D was close to the resistance area and we are expecting a rejection coming in soon. In the 8 hours timeframe, the current range is at the 21 MA support level (4.64%). As you can see that the USDT.D after bouncing back from the lower supporting trendline is already 20% up and it is yet to hit the upper resistance trendline. Looking into the technical aspect, the RSI, and the chart movement, the USDT.D can possibly rally higher towards the 5% resistance level. This could mean that BTC and other altcoins will drop a little bit more.
On the other hand, if the USDT.D gets rejected from the 21 MA then we can expect the dominance to fall up to the support level. This could mean a good rally in BTC and other altcoins.
In both ways, USDT dominance will reject and this could be a good opportunity to make some profits.
What do you think about the USDT dominance? Do you think it will get rejected or will it make a jump from here?
Do like and follow for more updates.
Thank you.
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