📈 Tether Dominance Losing Its Final Support

This will be the first time that Tether Dominance will go below EMA300 since April, its final support.

This is relevant because the RSI is already below 50 while trending lower, jumping off a cliff. The MACD is also on the bearish side which is trading below 0. It is actually about to print a bearish cross.

Notice in the past how in April 2022 even on a bearish note Tether Dominance would stay trading above MA200 (black) and EMA300 (gray).

When this level breaks, it will fuel Bitcoins growth, the Altcoins as well.

We are getting closer and closer, it is the first time we see MA200 starting to curve down on a long-term basis in years, the bearish bias on this index is gaining strength.

USDT.D Goes down Bitcoin and the Altcoins go up.
It should be fun.

Namaste.

Comment:

Major bearish breakdown confirmed.

This can be considered only the beginning.
We can see a retest of EMA300 as resistance or straight down, it is still too early to say:

There is a full bearish cross now on the MACD.

On the weekly timeframe, USDT.D is just now moving below EMA50.
EMA50 has been holding as support since January 2023.

It is still holding.
Breaking below would be a major development for the Cryptocurrency market; extremely bullish for Bitcoin and the Altcoins but nothing yet.

The MACD bearish cross is now visible also weekly.
And the RSI is trending down below 50.

There is so much room for this to drop... The way it seems from this chart, we might not get a "long drawn out correction" before the Halving, this time the behaviour might be different due to different market conditions.

We have to wait and see but instead of crashing strong, there might be long sideways/consolidation before the 2024 bull-market.

It is still early though, we have more than 6 months to prepare.

Comment:

This is the monthly USDT.D chart, see for yourself:

- It is still trading near its All-Time High which means that there is plenty of room for it to drop. But remember, more Tether can be minted at anytime so this chart can be tricky.

Bitcoin can grow, the Altcoins can grow and USDT Dominance as well if they print many billions (not necessarily a bad thing, it can simply mean the market is growing; positive).

- Look at the rising wedge pattern.

- Action is rising, then goes flat and then it starts dropping. Now the index is moving below EMA10.

See the MACD here, quite revealing:

What this all means is that the Altcoins and Bitcoin might experience more growth than what we are expecting.

We always underestimate these things.

It is not simply a "bullish wave" or a "bull-market", it is the first time money becomes free in the history of the world, just like when people gained access to books and information, something really major is happening in our lifetime.

The next revolution will be technology.

Believe it or not technology right now is private and secret.
All the information out there is fake, it isn't real.

In the near future, a few decades, the real workings of the earth will be revealed and this will create a technological revolution, everybody will be able to create technology just as people can now create their own money with Crypto... But this is a bit farther away, we still have to digest and integrate the money freedom, technology goes next.

Namaste.