USDT Dominance Breakout Could Pressure Crypto First
⠀
$USDT .D appears to have successfully broken above the upper boundary of its Ascending Channel, which could keep short-term pressure on BTC and the broader crypto market.
⠀
I’m now watching for a pullback toward the broken upper trendline before another potential move higher.
⠀
If the breakout holds, my next area of interest is the strong Resistance Zone at (7.42%-7.76%), with the PRZ around (7.47%-7.53%).
⠀
This is where the setup becomes interesting.
If USDT.D starts reversing from that area, it could finally give Bitcoin and altcoins some room for at least a temporary bullish recovery.
⠀
So my short-term view is simple:
First, possible pressure on crypto.
Then, watch for a USDT.D reversal around 7.47%-7.53%.
#Tether
⠀
$USDT .D appears to have successfully broken above the upper boundary of its Ascending Channel, which could keep short-term pressure on BTC and the broader crypto market.
⠀
I’m now watching for a pullback toward the broken upper trendline before another potential move higher.
⠀
If the breakout holds, my next area of interest is the strong Resistance Zone at (7.42%-7.76%), with the PRZ around (7.47%-7.53%).
⠀
This is where the setup becomes interesting.
If USDT.D starts reversing from that area, it could finally give Bitcoin and altcoins some room for at least a temporary bullish recovery.
⠀
So my short-term view is simple:
First, possible pressure on crypto.
Then, watch for a USDT.D reversal around 7.47%-7.53%.
#Tether
