Due to the sell pressure caused by German Gov. and Mt. Gox, USDT.D crossed above 5.4% level and unfortunately BTC dumped below 56,500 zone !
Previously a resistance zone, now the 5.2% - 5.4% area is a support level and it seems USDT.D is doing a retest of the mentioned zone meaning that current greens in the market is likely temporary.
Following the successful retest, USDT.D will most probably head for 6.25% level which means BTC will also head for lower levels (50,000 and probably lower)!
for now let us observe USDT.D's reaction to the support zone!
Previously a resistance zone, now the 5.2% - 5.4% area is a support level and it seems USDT.D is doing a retest of the mentioned zone meaning that current greens in the market is likely temporary.
Following the successful retest, USDT.D will most probably head for 6.25% level which means BTC will also head for lower levels (50,000 and probably lower)!
for now let us observe USDT.D's reaction to the support zone!
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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.