USDT Dominance double bottom?
I'm looking at 8h timeframe. There is potential double bottom formation which will be completed if USDT bounces from the current support level and breaks 8% neckline. W pattern target is mentioned on the chart. This is a scenario 1/ orange color/ with 25 % probability and at the same time if can lose the current support level and breaks down to the next support level at 6% and after a small bounce drops to 5.5%. This is a scenario 2/pink color/ with 75% probability. This will be bullish for BTC.
Combining USDT with SPX and BTC, I gave 75% probability to the 2d scenario because of BTC bullish case scenario I published on my previous analysis.
Combining USDT with SPX and BTC, I gave 75% probability to the 2d scenario because of BTC bullish case scenario I published on my previous analysis.
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.