Update on USDT Dominance
Happy New Year, Traders!
I hope your New Year's celebrations are going well. Here’s a quick update on USDT Dominance (USDT.D) to help you better understand the market.
USDT.D has rebounded as expected, so it seems that avoiding futures trading and shifting from BTC and other altcoins to USDT was the better choice.
Currently, USDT.D is at 4.32%, with a strong resistance level between 4.8% and 5%. To create a rejection, it needs to maintain candle closures below these levels, which would eventually lead to a rebound in BTC and other altcoins.
However, if USDT.D surpasses this resistance, it could create a stressful situation in the market. On the other hand, a rejection of USDT.D at these levels would bring relief to the market.
Let’s see how the New Year begins. Feel free to let me know if you’d like updates on specific altcoins.
Thank you, and trade safely!
I hope your New Year's celebrations are going well. Here’s a quick update on USDT Dominance (USDT.D) to help you better understand the market.
USDT.D has rebounded as expected, so it seems that avoiding futures trading and shifting from BTC and other altcoins to USDT was the better choice.
Currently, USDT.D is at 4.32%, with a strong resistance level between 4.8% and 5%. To create a rejection, it needs to maintain candle closures below these levels, which would eventually lead to a rebound in BTC and other altcoins.
However, if USDT.D surpasses this resistance, it could create a stressful situation in the market. On the other hand, a rejection of USDT.D at these levels would bring relief to the market.
Let’s see how the New Year begins. Feel free to let me know if you’d like updates on specific altcoins.
Thank you, and trade safely!
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