USDT DOMINANCE: A DROP INCOMING!!!
Welcome members to this update on USDT Dominance.
My sincere apologies for not posting the charts consistently for the last couple of weeks due to some medical emergencies. Thank you for your DMs and for showing your concerns towards me. It means a lot and for general information, I am alright and doing great now.
Moving on to the chart. Well, for the past few days, we are noticing some rejection in the USDT.D and this is coming out strong. This is the exact same resistance trendline from where the dominance got rejected in the past. We may see some greens in between but in a long term, the USDT.D is most likely to get rejected. I am still considering 4.8% to 5% to be a strong resistance zone for the USDT.D. If the USDT.D manages to break and close above it then things may go another way around.
Talking about the rejection, if the USDT.D keeps getting rejected then I am expecting a 17%-20% drop by the end of May 2022. This means altcoins will have plenty of room to make profits and BTC may rally higher.
The RSI, on the other hand, shows a bearish divergence move. This clearly indicates that the USDT.D will possibly drop in the long run.
We have two important supports for the USDT dominance. Support 1 is at 4.5% and support 2 is at 4.3%. The dominance may possibly bounce back from or close to these levels and whenever the USDT.D will bounce back, that will be a good opportunity to enter the trades.
What's your thought on this? Do you think the USDT.D will reject furthermore?
Do share your views and like my ideas.
Thank you.
My sincere apologies for not posting the charts consistently for the last couple of weeks due to some medical emergencies. Thank you for your DMs and for showing your concerns towards me. It means a lot and for general information, I am alright and doing great now.
Moving on to the chart. Well, for the past few days, we are noticing some rejection in the USDT.D and this is coming out strong. This is the exact same resistance trendline from where the dominance got rejected in the past. We may see some greens in between but in a long term, the USDT.D is most likely to get rejected. I am still considering 4.8% to 5% to be a strong resistance zone for the USDT.D. If the USDT.D manages to break and close above it then things may go another way around.
Talking about the rejection, if the USDT.D keeps getting rejected then I am expecting a 17%-20% drop by the end of May 2022. This means altcoins will have plenty of room to make profits and BTC may rally higher.
The RSI, on the other hand, shows a bearish divergence move. This clearly indicates that the USDT.D will possibly drop in the long run.
We have two important supports for the USDT dominance. Support 1 is at 4.5% and support 2 is at 4.3%. The dominance may possibly bounce back from or close to these levels and whenever the USDT.D will bounce back, that will be a good opportunity to enter the trades.
What's your thought on this? Do you think the USDT.D will reject furthermore?
Do share your views and like my ideas.
Thank you.
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