USDT DOMINNACE: ALL I CAN SEE IS A REJECTION!
Hello guys, here's a quick update on USDT Dominance in 6 hours timeframe.
This is going to be an interesting one.
Preview: In our previous update (link in the description), we saw how the dominance broke down below the support level but then again quickly push back in.
Update: This pullback was swift enough to reach close to the upper resistance trendline. From this level, all I can see is a rejection, and this time, I believe it will be a strong one. We may have some higher rallies in the dominance and the market may turn red again but it won't be for long as the Rektember is getting over and the Accutober is coming in, I guess the bulls will turn the table soon.
RSI: The RSI shows some weak hands on the USDT.D as it is forming a bearish divergence pattern.
Key points:
1. 7.88% to 8% resistance level.
2. We are at the end of the 3rd quarter.
3. The beginning of the 4th quarter is at the doorstep.
4. BTC at the $18k support level.
That's it from my end. If you have something to add then feel free to write it in the comment section.
Thank you for all your support and love. We are reaching 1k members soon on Tradingview.
God bless and trade safely.
This is going to be an interesting one.
Preview: In our previous update (link in the description), we saw how the dominance broke down below the support level but then again quickly push back in.
Update: This pullback was swift enough to reach close to the upper resistance trendline. From this level, all I can see is a rejection, and this time, I believe it will be a strong one. We may have some higher rallies in the dominance and the market may turn red again but it won't be for long as the Rektember is getting over and the Accutober is coming in, I guess the bulls will turn the table soon.
RSI: The RSI shows some weak hands on the USDT.D as it is forming a bearish divergence pattern.
Key points:
1. 7.88% to 8% resistance level.
2. We are at the end of the 3rd quarter.
3. The beginning of the 4th quarter is at the doorstep.
4. BTC at the $18k support level.
That's it from my end. If you have something to add then feel free to write it in the comment section.
Thank you for all your support and love. We are reaching 1k members soon on Tradingview.
God bless and trade safely.
