USDT Dominance in the system indicates the risk appetite of traders to stay with the risk assets (BTC, ETH, etc.) or migrate towards risk-free assets (USDT). The higher the value, the more bearish it is for risk assets.
Currently, the chart indicates that there is potential formation of an inverted head & shoulder pattern. This means that if the USDT dominance manages to close above 6.21% on a weekly basis, there is a good chance that we are heading towards Crypto winters, i.e. bear market.
Currently, the chart indicates that there is potential formation of an inverted head & shoulder pattern. This means that if the USDT dominance manages to close above 6.21% on a weekly basis, there is a good chance that we are heading towards Crypto winters, i.e. bear market.
Best,
Sumit
youtube.com/@XumitCrypto
Sumit
youtube.com/@XumitCrypto
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.
Best,
Sumit
youtube.com/@XumitCrypto
Sumit
youtube.com/@XumitCrypto
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.