Tether Dominance Strong Bearish Signals Bitcoin Soaring!

16 ก.ค. 2022

Now we are back to the candlesticks and we have strong bearish signals on this chart.

This is the daily timeframe/peridiocity for USDT.D.

We have a lower high 13-July compared to 18-June.
Prices trading below EMA10 and EMA21.

As EMA50 works as support, this level is being weakened the more it is challenged.
(USDT.D daily now trades below EMA50)

The RSI has gone below 50 (bearish) while USDT.D values are high.

Today's candle is already displaying an upper wick, signaling bearish pressure.

It looks as if a strong drop can happen within days...

This would be equivalent to Bitcoin going through the roof.

On the 4H timeframe, we can see bearish momentum building up.

A strong rejection at MA200...

As USDT.D drops, Bitcoin grows.

Namaste.