📈 Tether Dominance Long-Term Bearish Trend Confirmed

17 במרץ 2023

Last week closed as an inverted hammer and this was the "last hooray".

EMA50 still stands as support but we have multiple lower highs since June 2022.

The weekly MACD just entered the bearish zone:

The weekly RSI is also showing a strong bearish bias:

All the USDT (Tether) will be used to buy Bitcoin and Altcoins.

Here we can see clearly on the daily timeframe how MA200 has been lost as support:

Below this level Tether Dominance is always bearish.

Notice bear volume being at its highest since November 2022 when USDT.D started to decline.

The next drop will send USDT.D to around 4.81%, a major drop.
This is the level it traded at around April 2022, this would mean Bitcoin trading at about $40,000.

There is strong support at this level just as Bitcoin will face strong resistance at 40k.

Everything is pointing in the same direction... Bitcoin will grow like the world is ending... But the world isn't ending, it is just the end of an era where a new financial system will emerge.

✔️ Bitcoin is the future of money.
✔️ Cryptocurrency is the future money.

✔️ Bitcoin is the present of money.
✔️ Bitcoin is very likely to save us from another 2008.

Namaste.