Red light, green light: How USDT dominance predicts BTC price
Ever play that game "Red light, green light"? So has bitcoin.
Tether dominance has been oscillating somewhat predictably within a rising channel for the past several years. And the upper and lower bounds of this channel can foreshadow bitcoin's macro price movement.
Notice what happens when dominance reaches the top of the channel - green light! BTC sprints higher with a bullish impulse. And, naturally, what do we see when USDT.D reaches the bottom of the channel? Red light! BTC bulls freeze, and price retraces lower.
This certainly isn't a standalone trading signal, just one of many interesting patterns to keep an eye on.
Tether dominance has been oscillating somewhat predictably within a rising channel for the past several years. And the upper and lower bounds of this channel can foreshadow bitcoin's macro price movement.
Notice what happens when dominance reaches the top of the channel - green light! BTC sprints higher with a bullish impulse. And, naturally, what do we see when USDT.D reaches the bottom of the channel? Red light! BTC bulls freeze, and price retraces lower.
This certainly isn't a standalone trading signal, just one of many interesting patterns to keep an eye on.
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