USDT DOMINANCE: STILL MORE ROOM FOR A DOWNFALL.
Hello folks, welcome to this daily update on USDT dominance.
We have seen a significant drop in the USDT.D recently, resulting in a good rally for BTC and other altcoins. Looking into this daily chart, I am analyzing more downfalls in the coming days. With the dominance currently at 6.63%, I am expecting it to drop close to 6.25% which means, BTC and other altcoins have still some more room left for a green rally.
Also, we need to be careful here because BTC has a strong resistance at around $30k to $33k. If we compare these two charts side-by-side, it is most likely possible that the dominance will drop to 6.3% and BTC will rally close to 33K and then a correction to cool down the situation.
This is my observation as per the analysis. You might have a different POV so do not hesitate to write it down in the comment box.
Thank you for reading this update. I hope this will be helpful for you to make better trading decisions.
Trade safely.
We have seen a significant drop in the USDT.D recently, resulting in a good rally for BTC and other altcoins. Looking into this daily chart, I am analyzing more downfalls in the coming days. With the dominance currently at 6.63%, I am expecting it to drop close to 6.25% which means, BTC and other altcoins have still some more room left for a green rally.
Also, we need to be careful here because BTC has a strong resistance at around $30k to $33k. If we compare these two charts side-by-side, it is most likely possible that the dominance will drop to 6.3% and BTC will rally close to 33K and then a correction to cool down the situation.
This is my observation as per the analysis. You might have a different POV so do not hesitate to write it down in the comment box.
Thank you for reading this update. I hope this will be helpful for you to make better trading decisions.
Trade safely.
