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Let's analyse USDT dominance on Shorter Time frame:
USDT dominance is currently at the channel support within a parallel channel and has been following a falling wedge pattern since reaching the channel's upper boundary.
Two potential scenarios could unfold:
Scenario 1: USDT.D bounces off the channel support, moving back towards the middle of the channel. This could create a mid-term bearish trend, potentially pushing BTC below $60k.
Scenario 2: USDT.D breaks downward through the channel, hitting the 5.06% level. This would likely propel BTC further towards FWB:67K and beyond.
In either case, the market is set for a significant shift within the next 1-2 weeks. Be ready!
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