📈 Tether Dominance | Long-Term Lower Highs Bearish Confirmation

26 Nis 2023

Tether Dominance has been fighting to stay above EMA50 weekly since the year started, January 2023 and things aren't looking good for this index.

✔️ When Tether Dominance (USDT.D) goes down, everything Crypto (Bitcoin + Altcoins) goes up.

Tether Dominance closed last week above EMA10/21 just to be pushed lower once more, EMA50 working as support.

The longer a support level is challenged, the weaker it becomes.

Four and a half month EMA50 becoming weaker and weaker...
Since June 2022 we get lower high after lower high... Confirming the bears have the upper hand or else we would be seeing higher highs instead.

There are more bearish signals:

• Trading volume keeps going lower and lower.
  
• The RSI continues moving lower and lower, now below 50.
  
• Bitcoin has one more bullish wave to give and we have an inverse relation between these...
  

It is the same chart, the same pattern we've been looking at now for many months... USDT.D peaking and consolidating before the next drop (distribution).

The longer it takes to break down, the stronger the drop when it comes.

It is very hard to invalidate this chart setup...
We would need to see a weekly close above 8.25%... So far it continues looking red.

This is confirmation. A bullish signal for Bitcoin and the Altcoins.

Thanks a lot for your continued support.

Namaste.