USDT DOMINANCE: A BOUNCE BACK INCOMING

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Hello traders, here's a quick update on USDT Dominance.

Timeframe: 4 hours.

Update: In my previous update, we discussed how the USDT.D formed a bullish falling wedge pattern but failed to break above the resistance trendline. This clearly showed a rejection and the market pumped.

Current Scenario: Right now the USDT.D is bouncing back precisely from the support level drawn in the chart. If I am not wrong then we can expect the dominance to rally further high towards the 7% resistance level.

Conclusion: I expect a correction in the market which means shorting the market is likely in favor. The USDT.D breaking down below the 5.9% support level will invalidate this chart.

I hope this update is helpful to all. Keep supporting with your likes, comments, and follow.

Thank you.