Bearish USDT.D Bounce Off Support Trendline, Total 2 + Total3

4天前

Here's a follow up study to my USDT.D analysis from a few weeks ago, showing the markets typically sell off and put in a near term market top when Tether Dominance bounces off this key trendline (since 2018).

This is likely a sign of further downside on Bitcoin and the Total Market Cap with a further 20% correction likely before we bounce again. Hopefully in time for a Santa Claus Rally.

Also I look at how price clearly rejected on the Total 2 and Total 3 Market Cap's at the old ATH's from 2021. So it's no surprise markets are selling off here.

I've been saying 'Show me the charts, and I'll tell you the news' for years...

So while Powell's comments today were Bearish, it was incidental.

The market needed a cooldown, and the FOMC comments today were just the catalyst.

Let me know what you think below, and go ahead and like the video if you'd like me to do more of these here on the TV channel.

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