USDT Dominance Providing Clearer Insight for Potential BTC Bear
Direction on BTC is a challenge. However, the big hairy bear seems more likely. One cannot be certain and must not rule out the potential for BTC to surprise!
USDT.D has offered mitigation of the bullish bias for me. It's right at resistance sure, but it's posted seven prior monthly candles here. No doubt it's knocking on this ceiling with experienced knuckles, and ceiling is starting to look flimsy, with little fight left.
Some key points on the chart to watch for:
1. Monthly support at 3.5%
2. Monthly resistance at 4.6%
3. Mid-range at 4%
4. Breakout of the resistance has a target of 7.5%
In my opinion all other dominance charts look a little feeble. There's definitely a case for weakness across the dominance as a whole which fits my bias of a minimum 7.5% on USDT dominance. This would put BTC and the rest a lot lower to where they are right now.
Note: Only observations in this post, nothing more.
USDT.D has offered mitigation of the bullish bias for me. It's right at resistance sure, but it's posted seven prior monthly candles here. No doubt it's knocking on this ceiling with experienced knuckles, and ceiling is starting to look flimsy, with little fight left.
Some key points on the chart to watch for:
1. Monthly support at 3.5%
2. Monthly resistance at 4.6%
3. Mid-range at 4%
4. Breakout of the resistance has a target of 7.5%
In my opinion all other dominance charts look a little feeble. There's definitely a case for weakness across the dominance as a whole which fits my bias of a minimum 7.5% on USDT dominance. This would put BTC and the rest a lot lower to where they are right now.
Note: Only observations in this post, nothing more.
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