Hello Everyone. I want share my idea about USDT Dominance.
USDT Dominance is in range same as Bitcoin, but today we saw strong support brake out, then strong pullback from support.
I think USD Dominance is not strong anymore, but at higher timeframe for example on 1w timeframe its look like this week was liquidity grab and it will go up, this week candle will close in 2 days, I hope at the weekend we will see real and clean movement of USDT dominance, which actually will give us picture what position we need to open on bitcoin.
I still think this index is bearish, I want to show you my 2 scene of this index.
1 Bullish - Price has big reaction at previous support, going to resistance and make brake out.
2 Bearish - price coming back, testing again last support where it has big reaction, then brake it and coming strongly down.
Be patient !!!!
USDT Dominance is in range same as Bitcoin, but today we saw strong support brake out, then strong pullback from support.
I think USD Dominance is not strong anymore, but at higher timeframe for example on 1w timeframe its look like this week was liquidity grab and it will go up, this week candle will close in 2 days, I hope at the weekend we will see real and clean movement of USDT dominance, which actually will give us picture what position we need to open on bitcoin.
I still think this index is bearish, I want to show you my 2 scene of this index.
1 Bullish - Price has big reaction at previous support, going to resistance and make brake out.
2 Bearish - price coming back, testing again last support where it has big reaction, then brake it and coming strongly down.
Be patient !!!!
