Tether Dominance Ultra Bearish

One of our readers pointed out the USDT.D (Tether Dominance) chart... It is ultra bearish.

Let's get started.

We have these strongly bearish candles (1):

While prices are now moving below EMA10 (2), we also have a double top (3) and a lower high (4):

The MACD is about to print a bearish cross (5) while the RSI is about to move to weak from strong (6).

These are many bearish signals...

Bitcoin is moving higher (7).
USDT.D and BTCUSD have an inverse correlation.

Taking this into consideration, we can expect Bitcoin to grow some more.

Namaste.

Bình luận:

My friends, I just published an update for this one based on the weekly timeframe.

Please look at it and let me know what you think.

Bình luận:

This one has additional room to drop...
Which means that Bitcoin has additional room to grow.