USDT.D - Stablecoin Dominance and Why This is Important
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The support and resistance lines in the USDT.D graph gives us highly accurate reversal levels for BTC. As the stablecoin dominance is measured as a percentage, we are able to get a better grip on the investor Fear & Greed regardless of the marketcap.
Some key observations:
If USD.T dominance falls from its current location, then we have a really good bullish momentum in our hands.
Some key observations:
- 3.24 level acts as the divide between a bull market and a bear market. Getting below this value is bullish, getting above is bearish.
- Since 28K, USD.T has broken below key resistance lines and now is below this bull/bear market critical level.
- BTC's fall to 45.7 coincided with USD.T confirming this critical level, as the graphs below indicate.
If USD.T dominance falls from its current location, then we have a really good bullish momentum in our hands.
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