$USDT.D - The dominance of USDT is currently sitting at bear-market low levels, which has been a strong reversal area over the last couple of years.
Because of this, I’ve been leaning more toward the bullish side for the broader crypto market lately. However, until there are clear signs of weakness in USDT.D, such as the price breaking below the 1D Bull Market Support Band, which has been a strong reversal spot over the last couple of months, and which would also align with bullish confirmations across the broader crypto market and reclaims of important high-timeframe support ranges that were lost, I will maintain a more conservative approach and stay in the hedges I took weeks ago. That’s because, for now, I believe the most likely outcome remains mid-term distribution around the high-timeframe resistance range marked in red and further consolidation across the broader crypto market.
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$USDT.D - The dominance of USDT is currently sitting at bear-market low levels, which has been a strong reversal area over the last couple of years.
Because of this, I’ve been leaning more toward the bullish side for the broader crypto market lately.
However, until there are clear signs of weakness in USDT.D, such as the price breaking below the 1D Bull Market Support Band, which has been a strong reversal spot over the last couple of months, and which would also align with bullish confirmations across the broader crypto market and reclaims of important high-timeframe support ranges that were lost, I will maintain a more conservative approach and stay in the hedges I took weeks ago.
That’s because, for now, I believe the most likely outcome remains mid-term distribution around the high-timeframe resistance range marked in red and further consolidation across the broader crypto market.