USDT DOMINANCE: BROKE DOWN THE SUPPORT LINE.
Hello traders, welcome to the USDT Dominance update. This update will be the continuation of the previous one.
Timeframe: 1 day.
Update: The USDT.D broke down below the support level in the daily timeframe. This time, it didn't follow the past movements. So, is it good for BTC and other altcoins? Yes, it is but at the same time we need to be careful cause any negative news and the dominance will jump straight inside the trendline again making a fakedown move. We can see that BTC and other altcoins are showing some positive moves which is good and until and unless the USDT.D is below the trendline, the market will remain bullish in a short term.
I will post more updates on this until then trade safely.
Thank you.
Timeframe: 1 day.
Update: The USDT.D broke down below the support level in the daily timeframe. This time, it didn't follow the past movements. So, is it good for BTC and other altcoins? Yes, it is but at the same time we need to be careful cause any negative news and the dominance will jump straight inside the trendline again making a fakedown move. We can see that BTC and other altcoins are showing some positive moves which is good and until and unless the USDT.D is below the trendline, the market will remain bullish in a short term.
I will post more updates on this until then trade safely.
Thank you.
