$USDT Dominance |
@tether
One of the most important charts in crypto. I think we have a bit more pain in alts before we get our drop for Alt Szn. Far from me to be bearish, I am just now trying to be impartial. Looking at what the chart is telling me:
1) We have 2 main outstanding supply orderblocks above that really require mitigation before going down
2) We have just created a range, would be looking for a potential Wyckoff distribution, marked out a potential scenario which takes the above OBs. The 1st one lines up perfectly with my DL tool level at 1.3 Fib
3) Fundamental news, war going on, gold is spiking, people are selling off to hold stables - kinda makes sense
4) BTC.D oscillator is starting to curl up showing a potential climb in dominance which isn't the best for alts
5) MACD is starting to turn bullish, adding confluence
6) My custom multi RSI and trend analyser is showing RSI is bullish for USDT.D on various time frames
We have been patient, we deserve whats coming but I think we will have to wait a bit longer (again)