USDT.DBTC.DOTHERS.D Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
In this post; I'm going to talk about the dominances and their affect on the market's structure in near futures ! 📑 These will be our topics : - USDT.D; Cup & Handle formed, Where are we heading to ? - BTC.D; Reached the local support on 12H's time-frame, More upward movement expected... - OTHERS.D; Possible three drives and a bearish break on RSI ! Now let's head to our article; Shall we ?
- USDT.D; Cup & Handle formed, Where are we heading to ? As you can see on the chart given as main idea, There's a cup & handle formed on 4H's time-frame and it'll be confirmed after break-out above the grey zone ( Resistance zone, Supply ). This means that the overall for crypto market is becoming bearish and #USDT.D can surge more that 28% according to cup $ handle's depth ! 📌 Now as we know about the USDT's dominance; It's better to check on the other charts to make our overview more reliable, Follow me 👇🏼
- BTC.D; Reached the local support on 12H's time-frame, More upward movement expected... Our next station will be at #BTC.D's chart to make decision on our holding bags. #BTC.D is located on the local 12H's support and it's acting as Demand zone here ( There's no demand zone actually in dominances charts ! ). Also there are couple of S/R zone and the resistance zone above... Have to mention that we have a bearish trendline near above from the current level ! So, What is the expectation ? I expecting a pull-back from the current support, Which means that scalpers will more focus on BTC in next days and the break-out above the resistance zone and the trendline will confirm the bullish pull-back from the support. Which means that there's a possibility for #BTC.D to retest the higher S/R zone located on 47%'s level ! 📚 With the information given above, Now we know that We'll have the bearish market ahead ( at-least another dive into 40K's Demand on BTC's chart ) and #BTC won't be the leader of the LONGs liquidations. That's why I wanted to take a look into #OTHERS.D's chart too !
- OTHERS.D; Possible three drives and a bearish break on RSI ! Now the last importance for us is to know about our ALT's holding bags... According to the information given above; There's a possibility for #OTHERS.D to form a three drives and also the RSI is kinda confirming the retest on trendline ! If we look into RSI; We can see the break below the movement one time; However there's another trendline that supporting the movement in 12H's time-frame. But there's a dynamic resistance too ! So with the data that we extract from our RSI; There will be a retest on trendline and the current higher S/R line is confirming it. Have to mention that, Any retest on trendline will activate our three drive's scenario and it'll increase the chance of breakdown below the trendline ! 📚 In total, We have the info about the ALT's weaknesses in next days or even weeks; Which is suggesting to decrease our risks on our ALT's positions...
📑 Conclusion : The bullish formation on #USDT.D's chart is suggesting that we have more downward movements on #BTC; However we need a confirmation above the mentioned resistance zone. On the next factor we found-out that the #BTC.D's chart is following the #USDT.D's movement and it'll grow neither ! At the end the only weakness on dominance's charts is belongs to #OTHERS.D; Which means that in next downward movement we might see that #ALTs will bleed much more that #BTC. In general you need to focus on your swings and close them in time. ( When you see any weakness on BTC's movement )
Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision.