📈 Tether Dominance Bullish vs Bearish Potential
The Tether Dominance Index (USDT.D) is now bullish as it continues trading above EMA10.
Let's look at the potential for a reversal; early bearish signals.
- Lower high mid-term. June vs November.
- Decreasing bullish volume. As USDT.D continues to move higher the weekly trading volume goes lower, giving us an early signal of weakness.
- RSI bearish divergence. Divergences tend to happen between tops and bottoms.
These are just early signals and the trend is still bullish but we are looking for a potential reversal.
Tether Dominance moves inverse to bitcoin.
- If USDT.D goes up, BTCUSD goes down.
- If USDT.D goes down, BTCUSD goes up.
That's why we track this index in search for confirmation/additional information to support what we see on the bitcoin and Altcoins charts.
Namaste.
Let's look at the potential for a reversal; early bearish signals.
- Lower high mid-term. June vs November.
- Decreasing bullish volume. As USDT.D continues to move higher the weekly trading volume goes lower, giving us an early signal of weakness.
- RSI bearish divergence. Divergences tend to happen between tops and bottoms.
These are just early signals and the trend is still bullish but we are looking for a potential reversal.
Tether Dominance moves inverse to bitcoin.
- If USDT.D goes up, BTCUSD goes down.
- If USDT.D goes down, BTCUSD goes up.
That's why we track this index in search for confirmation/additional information to support what we see on the bitcoin and Altcoins charts.
Namaste.
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