USDT DOMINANCE long term update: must read!!
Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as an
Financial advice.
USDT DOMINANCE LONG TERM UPDATE:
As we can see here We have a price hitting a strong supply zone on USDT.D
If you look closely at the first cycle or third cycle and compare then we can know that whenever the price come to this supply zone then it got rejected heard so this time also we can expect to can reject from this supply zone up to the lower level of this expending channel.
Tether Dominance
- Just as Bitcoin dominance refers to Bitcoin's market cap relative to that of the entire market cap, Tether dominance is no different.
- It refers to how much capital is parked in stablecoins, specifically Tether, at any point in time.
- Since Tether (USDT) is a stable coin that tracks the USD, an increase in Tether dominance suggests a pullback or correction in cryptocurrencies.
- A simple way to understand it is to think of USD flowing in and out of the market.
- On the other hand, if Tether dominance drops, it means that more capital is being deployed to purchase cryptocurrencies, which is bullish overall for the market.
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as an
Financial advice.
USDT DOMINANCE LONG TERM UPDATE:
As we can see here We have a price hitting a strong supply zone on USDT.D
If you look closely at the first cycle or third cycle and compare then we can know that whenever the price come to this supply zone then it got rejected heard so this time also we can expect to can reject from this supply zone up to the lower level of this expending channel.
Tether Dominance
- Just as Bitcoin dominance refers to Bitcoin's market cap relative to that of the entire market cap, Tether dominance is no different.
- It refers to how much capital is parked in stablecoins, specifically Tether, at any point in time.
- Since Tether (USDT) is a stable coin that tracks the USD, an increase in Tether dominance suggests a pullback or correction in cryptocurrencies.
- A simple way to understand it is to think of USD flowing in and out of the market.
- On the other hand, if Tether dominance drops, it means that more capital is being deployed to purchase cryptocurrencies, which is bullish overall for the market.
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Comment:
in shorter TF it forms this channel or it at the upper resistance of this so can expect a rejecting from here up to the lower support
