Market update: Relief or more Dump?

USDT dominance is currently hitting three major resistance levels:

1. 100 EMA (blue)
2. 50 SMA (red)
3. 8-month-old trendline resistance (blue)

This confluence of resistance makes this level crucial. Taking into account the channel breakdown and retest, a rejection seems more likely at the moment, suggesting a potential market relief rally.

Invalidation:- Close above the red zone.

dyor, nfa

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#PEACE

액티브 트레이드:

Market Update:- A break and close in Tether Dominance above the red zone at 5.03% indicates a potential dump for BTC to $60k and possibly 57k.
This level is crucial to watch!

Hard Rejection: Another attempt to break $70k could result in a market-wide relief rally.

Remember the recent article? Make sure to read it if you haven't yet!

Hope this helps!

#Crypto #Bitcoin