USDT DOMINANCE: A BOUNCE BACK INCOMING
Hello traders, here's a quick update on USDT Dominance.
Timeframe: 4 hours.
Update: In my previous update, we discussed how the USDT.D formed a bullish falling wedge pattern but failed to break above the resistance trendline. This clearly showed a rejection and the market pumped.
Current Scenario: Right now the USDT.D is bouncing back precisely from the support level drawn in the chart. If I am not wrong then we can expect the dominance to rally further high towards the 7% resistance level.
Conclusion: I expect a correction in the market which means shorting the market is likely in favor. The USDT.D breaking down below the 5.9% support level will invalidate this chart.
I hope this update is helpful to all. Keep supporting with your likes, comments, and follow.
Thank you.
Timeframe: 4 hours.
Update: In my previous update, we discussed how the USDT.D formed a bullish falling wedge pattern but failed to break above the resistance trendline. This clearly showed a rejection and the market pumped.
Current Scenario: Right now the USDT.D is bouncing back precisely from the support level drawn in the chart. If I am not wrong then we can expect the dominance to rally further high towards the 7% resistance level.
Conclusion: I expect a correction in the market which means shorting the market is likely in favor. The USDT.D breaking down below the 5.9% support level will invalidate this chart.
I hope this update is helpful to all. Keep supporting with your likes, comments, and follow.
Thank you.
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