USDT DOMINANCE: KISS OF DEATH???
Hello folks, welcome to this USDT dominance update in 12 hours timeframe.
A decent -8% drop in the USDT.D, and we saw how it broke below the rising wedge pattern. Technically, whenever a chart breaks below the rising wedge pattern, it tends to bounce back, attempting to reach/break the trendline. In most cases, this is a bearish formation and that's why it is known as the kiss of death. If this kiss of death is good to be true then we better be ready for the market to make some good rally.
As I said in my previous updates, the USDT dominance is already at its peak and soon we will see the downfall. This could be it or maybe another leg up, it is hard to tell but one thing is clear eventually, it will fall.
For now, let us see if this is actually a downfall for the dominance or a fake down to clear some weak hands.
More updates coming soon until then trade safely.
A decent -8% drop in the USDT.D, and we saw how it broke below the rising wedge pattern. Technically, whenever a chart breaks below the rising wedge pattern, it tends to bounce back, attempting to reach/break the trendline. In most cases, this is a bearish formation and that's why it is known as the kiss of death. If this kiss of death is good to be true then we better be ready for the market to make some good rally.
As I said in my previous updates, the USDT dominance is already at its peak and soon we will see the downfall. This could be it or maybe another leg up, it is hard to tell but one thing is clear eventually, it will fall.
For now, let us see if this is actually a downfall for the dominance or a fake down to clear some weak hands.
More updates coming soon until then trade safely.
