Tether Dominance Says Bitcoin Is Going Down

10月26日

Tether Dominance's decline ended in March 2024. If we look at the chart before this date, all we have is bearish action, lower highs and lower lows.

The last drop was very steep and produced a rounded bottom. Out of this rounded bottom USDT.D entered a rising channel and is moving within it. We can see a clear pattern of rising values and the biggest volume bar is green.

Each time the lower boundary of the channel is tested, we get a bullish move. Each time there is a bullish move, Bitcoin goes down.

➖ Bitcoin was moving up between 6-September and 21-October.
➖ USDT.D was moving down between 6-September and 21-October.

Now, USDT.D started to move up. This development can be used as signal that says Bitcoin is about to move down.

This is what the chart is currently saying.

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