📈 Tether Dominance Weekly | July 2022 Repeat

14 בינו׳ 2023

The weekly candle is full bearish for USDT.D and we have some interesting data to analyze.

Tether Dominance is staying right above support in the form of a 0.618 Fib. retracement level.
The weekly candle closes in about 30 hours.

Looking back at July 2022, this exact same level was tested. As USDT.D broke below it, what followed were four red weekly candles (28 days) that ended up testing the 1 Fib. retracement.

We have the same scenario now.
The weekly session is about to close right above support, this happened last time but only to be followed by strong bearish action.

The RSI is in scuba diving mode and we have a volume breakout on the bearish side.

A bounce can happen at support, this is normal... But the signals are pointing lower, clear and strong.

The next targets are 6.45% and 5.65% which would mean a Bitcoin price of $23,000 to $25,000.

Namaste.