USDT Dominance has experienced a significant retracement this week, influenced by Bitcoin's rally and resulting in observations about key support and resistance levels.
Key Observations:
Retracement Context: USDT Dominance retraced as Bitcoin rallied over 7%, leading to a move of cash out of USDT.
Support and Resistance Levels:
The current level of support is in the range of 5.25% - 5.75%.
The 5.75% level has been tested twice this year and is considered a strong level of support.
To the upside, the next area of resistance is at 6.30% - 6.75%.
Market Implications:
Correction Expectation: With an expectation of a market correction, close monitoring of the current support area is crucial.
Bearish Signal: A move up in USDT Dominance is considered bearish for the trading market.
Key Observations:
Retracement Context: USDT Dominance retraced as Bitcoin rallied over 7%, leading to a move of cash out of USDT.
Support and Resistance Levels:
The current level of support is in the range of 5.25% - 5.75%.
The 5.75% level has been tested twice this year and is considered a strong level of support.
To the upside, the next area of resistance is at 6.30% - 6.75%.
Market Implications:
Correction Expectation: With an expectation of a market correction, close monitoring of the current support area is crucial.
Bearish Signal: A move up in USDT Dominance is considered bearish for the trading market.
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.
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.