Friends, we would like to congratulate you on a significant event - a full-fledged breakdown downward of the 6-year ascending channel of USDT dominance on the weekly timeframe! 🎉
This means that investors are entering the market to the maximum and all liquidity from USDT will now very actively flow into cryptocurrencies.
Of course, USDT dominance will not go into a sharp decline, but it is clear that the USDT dominance trend is now strictly downward.
Any corrections in the market will be relatively small, only up to -17% for Bitcoin, and if very negative news is released, the drawdown will be only up to -24%.
Therefore, any strongly bearish scenarios are no longer relevant and a strong downward movement will only occur in the event of an emergency in the market.
💸 Soon the alts will begin to fully come to life, and for this it is only necessary for Bitcoin to break through and consolidate above the $52,000 mark.
Therefore, now you need to buy alts even more actively, especially during market corrections that are no longer particularly large.
Now$BTC Bitcoin has almost reached the upper limit of the medium-term ascending channel.
At the moment, this border is in the area of $51,900, from which, by all logic, it will go for a small correction to approximately $42,600, and if there is negative news, then the price may fall to $39,400 at the moment.
All timeframes have bearish divergences and should be unloaded.
💰 Bitcoin needs to gain more strength to overcome this level upward, so a small pullback is simply necessary for the market.
Most likely, this will be the last opportunity to purchase Bitcoin at such prices ($39,400-$42,600), but keep in mind that historically there have been emergencies in the market before the halving, but there are always exceptions.
Therefore, under no circumstances should such a scenario occur, do not sell at a loss. The drawdown will be redeemed very quickly.
Today there will be a very interesting post with 3 promising alts. Do not miss!
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