Bitcoin might have one more little surprise in store
The whole market is definitely printing signs of topping structure as well as the fact that a myriad of black swan conditions is facing the economy right now. However, Tether dominance is showing that there may be a short term move up for BTC as Tether dominance has rejected it's top trend in a bear flag.
Long-term trend support on the linear has long been the limit for BTC topping out and could go back to that trend or potentially not quite that far so watch momentum oscillators. Also be aware that algorithms will sell off if the SPX and NDQ dump. Take entries with caution as we aren't far from a large correction in my opinion and I highly doubt that the long standing bottom trend will break, even though the USDT.D linear has never been under it's 200 EMA on the weekly time frame.
Remember, lower targets for USDT.D can't be ruled out but are highly unlikely. Considering the constant liquidity through Janet Yellen's issuance of treasuries, I wouldn't completely rule it out either.
Long-term trend support on the linear has long been the limit for BTC topping out and could go back to that trend or potentially not quite that far so watch momentum oscillators. Also be aware that algorithms will sell off if the SPX and NDQ dump. Take entries with caution as we aren't far from a large correction in my opinion and I highly doubt that the long standing bottom trend will break, even though the USDT.D linear has never been under it's 200 EMA on the weekly time frame.
Remember, lower targets for USDT.D can't be ruled out but are highly unlikely. Considering the constant liquidity through Janet Yellen's issuance of treasuries, I wouldn't completely rule it out either.
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