BITCOIN Is the USDT dominance about to spark new rally to $150k?

Bitcoin (BTCUSD) has been on a fierce consolidation the past few weeks, a lagging price action not helped at all by the recent market fundamentals.

From a technical view point though, the current BTC market structure is a Re-accumulation Phase similar to the Re-accumulation Phases of both previous Bullish Legs since the November 2022 bottom.

Those Re-accumulation Phases took place when the USDT dominance (chart on the right) posted a peaking 1D RSI struture similar to today's and the DXY (blue trend-line) was having a pull-back.

The current technical sequences matches the exact Re-accumulation Phases of BTC, which took place around the 0.5 Fibonacci level. If we apply this Fib structure now, even assuming the less ideal scenario that the 0.5 Fib is on the January 13 Low and not in the middle of the Re-accumulation, we get a potential Target for the upcoming rally at 150k.

SO what do you think? Can this unique USDT dominance pattern spark a new rally on Bitcoin to 150000? Feel free to let us know in the comments section below!

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