USDT DOMINANCE: A POSSIBLE MOVE TO 7.8%
Hello traders, here's a quick update on USDT dominance in a daily timeframe.
The USDT.D has been moving forward slowly and steadily and as the trendline was set a long time back, the 7.8% resistance level is quite possible. This means either this week or by next week, the USDT dominance might possibly reject. All we need is the dominance not to break out above the 7.8% level or else it will be a big threat to the market. With BTC, If the USDT.D reaches 7.8% then BTC might drop further toward 26.6k.
Key points:
1. Breakout above 7.8% will be an invalidation point for the rejection.
2. 21 MA, still a good support for the USDT.D.
That's all for now. Trade safely.
The USDT.D has been moving forward slowly and steadily and as the trendline was set a long time back, the 7.8% resistance level is quite possible. This means either this week or by next week, the USDT dominance might possibly reject. All we need is the dominance not to break out above the 7.8% level or else it will be a big threat to the market. With BTC, If the USDT.D reaches 7.8% then BTC might drop further toward 26.6k.
Key points:
1. Breakout above 7.8% will be an invalidation point for the rejection.
2. 21 MA, still a good support for the USDT.D.
That's all for now. Trade safely.
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