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Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
I always keep an eye on USDT.D to feel the overall crypto market.
π And today I wanted to show the correlation between BTC and USDT.D
- Last week, BTC broke above the last major high in orange and blue 19k resistance, while USDT.D broke the last major low and 8% support.
- BTC is currently sitting around a strong resistance zone in green 22,000 while USDT.D around a support zone 7%
- For the bulls to remain in control for BTC, we need a break above 22,000, which would be USDT.D breaking below 6.8%
Meanwhile, a rejection would be expected.
And so on... the picture is self-explanatory.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich