BTCUSDT chart plus usdt Dominance chart analysis will bear win?
Hi traders
short-term btc probably will go to 57k as you can see in chart
but what about mid-term and long-term
bearish sings are more than bullish signs :
1- btc price couldn't close above of last ATH it couldn't even hold 64 for 1.5 days which means we had probably a fakeout
2- elliot's wave theory still warns for wave c
3- a huge wedge in tether dominance chart ( I explain it in comments)
short-term btc probably will go to 57k as you can see in chart
but what about mid-term and long-term
bearish sings are more than bullish signs :
1- btc price couldn't close above of last ATH it couldn't even hold 64 for 1.5 days which means we had probably a fakeout
2- elliot's wave theory still warns for wave c
3- a huge wedge in tether dominance chart ( I explain it in comments)
Note
usdt.D 1h chart broke out the wedge and had a pullback :
Note
usdt.D in bigger view : Note
the biggest wedge in usdt.Dif this wedge breaks crypto market will have some problme :
Trade closed: stop reached
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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.