Potential Bearish BAMM On The USDT Dominance B Point Adjustment
This is an update to a previous Pottential Shark BAMM Projection i had on the USDT Dominance.
It's been several months since posting and in that time the Shark Situation is still somewhat valid as a new high has not been made but i think it looks a bit ugly now. So based off the price action we've gotten recently i will be raising our Potential B point, thereby making this a Potential Bat rather Than a Potential Shark; The .886 Retrace Remains the Target if the B point breaks down.
Additionally we seem to be forming an accelerated Trendline which if we break that it would basically act as a Validation line to a Bearish Dragon.
We also seem to be trading within a Macro Ascending Broadening Channel on the Linear scale that we've Broken above but come back within at the highs.
Lastly the USDT Dominance is trading within a much larger Equidistant Channel on the Log scale Chart that can be seen below and i expect that it is setting up for a 50% Retrace overall:
It's been several months since posting and in that time the Shark Situation is still somewhat valid as a new high has not been made but i think it looks a bit ugly now. So based off the price action we've gotten recently i will be raising our Potential B point, thereby making this a Potential Bat rather Than a Potential Shark; The .886 Retrace Remains the Target if the B point breaks down.
Additionally we seem to be forming an accelerated Trendline which if we break that it would basically act as a Validation line to a Bearish Dragon.
We also seem to be trading within a Macro Ascending Broadening Channel on the Linear scale that we've Broken above but come back within at the highs.
Lastly the USDT Dominance is trading within a much larger Equidistant Channel on the Log scale Chart that can be seen below and i expect that it is setting up for a 50% Retrace overall:
