The cryptocurrency market is poised for a correction sooner or later. By examining USDT Dominance (USDT.D), we can see a scenario unfolding where the dominance continues its decline to 5.26%, which roughly correlates with Bitcoin reaching $65,000.
Detailed Analysis
No Reaction at 5.5% Level:
Rebound Possibility:
Continued Decline Scenarios:
4.5% Zone:
Next Steps to Monitor
Testing the 5.26% Level:
Closing the 5.7% Zone:
📌 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional advisor before making investment decisions.
Detailed Analysis
No Reaction at 5.5% Level:
- The expected market response at the 5.5% USDT.D level didn't materialize.
- This lack of reaction suggests a continuation towards the 5.26% zone to close that gap.
Rebound Possibility:
- After reaching 5.26%, a rebound into the newly formed Fair Value Gap (FVG) around 5.7% is plausible.
- This rebound could set the stage for the next significant market move.
Continued Decline Scenarios:
- A further drop to the trendline support might occur.
- Implication: This movement could usher in the much-anticipated altseason, where alternative cryptocurrencies outperform Bitcoin.
4.5% Zone:
- A decline to the 4.5% level is a more optimistic scenario.
- Comparison: Such a drop is akin to Bitcoin's impressive surge from $40,000 to $70,000 earlier this year—a scenario that's ambitious but not impossible.
Next Steps to Monitor
Testing the 5.26% Level:
- The immediate focus is on USDT.D testing the 5.26% mark.
- Observing the market's reaction at this level is crucial.
Closing the 5.7% Zone:
- Ideally, we'd like to see the 5.7% zone closed for a complete storyline.
- This closure would provide clearer signals for the market's next direction.
📌 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional advisor before making investment decisions.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.