USDT Dominance Chart Showing Weakness
A while back I posted a Bullish Shark with Bullish Divergence setup for USDT.D that signaled that USDT.D would rise as BTC fell and since posting that BTC Dominance indeed went up and price has certainly fallen. Now we have the opposite situation with USDT.D showing us a Bearish Shark with Bearish Divergence that we've failed to test above twice now and if things go as planned we should see BTC rallying as the USDT Dominance chart falls.
I will be targeting the zone between the 50% and 88.6% Retraces for profit taking before looking for any signs of reversal later on which if found could prove to be bearish for BTC if that time comes.
I will be targeting the zone between the 50% and 88.6% Retraces for profit taking before looking for any signs of reversal later on which if found could prove to be bearish for BTC if that time comes.
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