First, it’s important to remember that USDT Dominance (USDT.D) tends to move inversely with the market. In simple terms:
— If USDT.D rises, the crypto market usually drops.
— If USDT.D falls, the market typically rallies.
On the lower timeframes, USDT.D has broken out of a descending wedge formation, which is generally considered bullish.
Additionally, a double bottom pattern appears to be forming and is on the verge of breaking out to the upside.
Taking all of this into account, USDT.D could potentially rise toward the 5.81% level — suggesting that the broader crypto market may experience a short-term correction.
This outlook also aligns with one of my recent Bitcoin analyses.
Be sure to check my latest Bitcoin breakdown to understand where the market might be headed next.
— Thanks for reading.
— If USDT.D rises, the crypto market usually drops.
— If USDT.D falls, the market typically rallies.
On the lower timeframes, USDT.D has broken out of a descending wedge formation, which is generally considered bullish.
Additionally, a double bottom pattern appears to be forming and is on the verge of breaking out to the upside.
Taking all of this into account, USDT.D could potentially rise toward the 5.81% level — suggesting that the broader crypto market may experience a short-term correction.
This outlook also aligns with one of my recent Bitcoin analyses.
Be sure to check my latest Bitcoin breakdown to understand where the market might be headed next.
— Thanks for reading.
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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.
Related publications
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.