USDT Dominance just failed and doing BTC a huge favor!

6 may

On this chart we see a major development on the USDT Dominance (USDT.D). It formed its first ever Death Cross on the 5D time-frame, with the MA200 (orange trend-line) turning into Resistance since the start of February.

That has never happened in its history and as you can see, when USDT.D declines, Bitcoin (black trend-line) rallies, which has been doing so aggressively since early October 2023.

This is a sign that the current rally on BTCUSD might be far from over and if anything can even be much more aggressively than we initially thought.

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