Rounding Bottom Pattern will Make Correction on Crypto market🚨

2월 17일

🥳I hope you have a Great weekend.

📈Today, I want to analyze the Market Cap USDT Dominance% (USDT.D%) for you, which greatly impacts the cryptocurrency market trend.

📚What is Market Cap USDT Dominance% (USDT.D%)❗️❓

🔸Market Cap USDT Dominance% (USDT.D%) shows what percentage of the money is on USDT. There are 2 causes of the increase of USDT dominance.

🔸The first is that investors put cash on the market from the outside, which is due to the unfavorable weather in the market. And the second is again, as the market falls, investors withdraw their funds from cryptocurrency investments and put them to USDT. In both of them, a decrease in cryptocurrencies and an increase in USDT holders are observed.

🏃‍♂️What is Market Cap USDT Dominance% (USDT.D%) is currently moving in a 🟢Heavy Support zone(5.35%-4.90%)🟢near the Support lines and 200_SMA(Weekly).

💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys.

✅In addition, USDT.D% has managed to form a standard Rounding Bottom Pattern, which can be a sign of the end of the downward trend of USDT.D%.

📚What is the Rounding Bottom Pattern❗️❓

🔸The Rounding Bottom Pattern is a Reversal Pattern. It is also referred to as a saucer bottom pattern. It is a trend reversal pattern used in technical analysis to identify the end of a downward trend and the gradual price shift from a bearish to a bullish trend.

🔔I expect USDT.D% to be bullish in the coming hours and at least rise to the 🔴Resistance zone(5.50%-5.43%)🔴, which could cause the cryptocurrency market to a correction.

Market Cap USDT Dominance% Analyze (USDT.D%), 1-hour time frame ⏰.

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