12HR USDT Dominance Cup And Handle

I'm Bearish on Crytpo until USDT.D Gives a bearish retest of 7.17 level.


USDT.D
TOTAL

Will also be looking at Total Crypto market cap for confluence on this idea

Watching these Fib Levels as resistance

If we get a bearish breakout of this cup and handle, it's not uncommon to get a small consolidation before the pattern then see it breakout and over through the handle.
Looking for bounces around and above 7.17

If USDT.D gets down to 7.17:

• scan charts for RSI overbought and close to local highs(lower highs from dominant trend) for entries for shorts going into 2023
  
• If Charts are giving Bullish Retest on support, could be a sign to go long.
  

If USDT.D does breakout bullish: Look for some extremely bearish news to come with it.

• looking for a retest of the cup and handle to confirm more downside for the market.
  

I could see this going as high as 11%

Leave a comment if anything if you have any questions about this idea.

Merry Christmas Traders

Comment:

Since original post, we've gotten a bounce off of the lower trendline, now testing top trendline

Comment:

We got the Breakout, We could get some kind of pullback, which would give some temporary relief for crypto. Wait for pullback to reverse on confirmed support for safest entries for opening shorts.

Comment:

Bearish Retest of 7.17 confirmed more downside
Looking to make a lower low here.

Comment:

.236 support level bounce.

watching 6.77 and 6.92 as overhead resistance if trend continues up

Comment:

6.92 breakout of resistance.

Watching Over 200 MA as next resistance level.

Comment:

200 MA on 4HR timeframe. 7.04