Bitcoin / TetherLong
BTCUSDT: An update relating USDT dominance!!
Here's a quick update on the BTCUSDT chart:
BTC is currently trading within a parallel channel and appears fully prepared to reach its all-time high in the coming days.
A look back at the previous bull run in 2020 reveals a similar pattern. During that period, USDT dominance fell from around 4.9% to 2.5% before the market exploded upwards.
Interestingly, USDT dominance has recently broken the critical 4.9% level and is currently retesting it. A decisive rejection of this level could signal a massive altcoin pump.
Before the final ascent, Bitcoin might undergo a minor correction to the $63,000 - $64,000 range, or potentially even down to $60,000. This could be a prime opportunity to accumulate promising altcoins with strong fundamentals and technical indicators.
#BTCUSDT #Bitcoin #Altcoins #USDTdominance #cryptocurrency
Happy trading!!
BTC is currently trading within a parallel channel and appears fully prepared to reach its all-time high in the coming days.
A look back at the previous bull run in 2020 reveals a similar pattern. During that period, USDT dominance fell from around 4.9% to 2.5% before the market exploded upwards.
Interestingly, USDT dominance has recently broken the critical 4.9% level and is currently retesting it. A decisive rejection of this level could signal a massive altcoin pump.
Before the final ascent, Bitcoin might undergo a minor correction to the $63,000 - $64,000 range, or potentially even down to $60,000. This could be a prime opportunity to accumulate promising altcoins with strong fundamentals and technical indicators.
#BTCUSDT #Bitcoin #Altcoins #USDTdominance #cryptocurrency
Happy trading!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.