USDT Dominance Inverted H&S breakout??

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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.
Trade active
Stablecoin Dominance (USDT.D) has finally broken out of neck line of the inverted head & shoulder pattern this week. This would mean more downside for Bitcoin, and more so for Altcoins.
Trade closed: target reached
Stablecoin Dominance (USDT.D) has achieved its target level of 8.5%, as anticipated. With Bitcoin prices approaching $60,000 levels, the accumulation for long-term starts from here, even though the cycle bottom may not have formed yet.

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