BTCUSDT: An update relating USDT dominance!!
Here's a quick update on the BTCUSDT chart:
BTC is currently trading within a parallel channel and appears fully prepared to reach its all-time high in the coming days.
A look back at the previous bull run in 2020 reveals a similar pattern. During that period, USDT dominance fell from around 4.9% to 2.5% before the market exploded upwards.
Interestingly, USDT dominance has recently broken the critical 4.9% level and is currently retesting it. A decisive rejection of this level could signal a massive altcoin pump.
Before the final ascent, Bitcoin might undergo a minor correction to the $63,000 - $64,000 range, or potentially even down to $60,000. This could be a prime opportunity to accumulate promising altcoins with strong fundamentals and technical indicators.
#BTCUSDT #Bitcoin #Altcoins #USDTdominance #cryptocurrency
Happy trading!!
BTC is currently trading within a parallel channel and appears fully prepared to reach its all-time high in the coming days.
A look back at the previous bull run in 2020 reveals a similar pattern. During that period, USDT dominance fell from around 4.9% to 2.5% before the market exploded upwards.
Interestingly, USDT dominance has recently broken the critical 4.9% level and is currently retesting it. A decisive rejection of this level could signal a massive altcoin pump.
Before the final ascent, Bitcoin might undergo a minor correction to the $63,000 - $64,000 range, or potentially even down to $60,000. This could be a prime opportunity to accumulate promising altcoins with strong fundamentals and technical indicators.
#BTCUSDT #Bitcoin #Altcoins #USDTdominance #cryptocurrency
Happy trading!!
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