USDT.D - Stablecoin Dominance and Why This is Important
The support and resistance lines in the USDT.D graph gives us highly accurate reversal levels for BTC. As the stablecoin dominance is measured as a percentage, we are able to get a better grip on the investor Fear & Greed regardless of the marketcap.
Some key observations:
If USD.T dominance falls from its current location, then we have a really good bullish momentum in our hands.
Some key observations:
- 3.24 level acts as the divide between a bull market and a bear market. Getting below this value is bullish, getting above is bearish.
- Since 28K, USD.T has broken below key resistance lines and now is below this bull/bear market critical level.
- BTC's fall to 45.7 coincided with USD.T confirming this critical level, as the graphs below indicate.
If USD.T dominance falls from its current location, then we have a really good bullish momentum in our hands.
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UPDATE WITH RECENT PRICE ACTION
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