USDT DOMINANCE: BOUNCING BACK.
Hello traders, I hope you all are doing absolutely well. Here's a quick update on USDT dominance in 6 hours and some tips on scalping.
The USDT dominance has formed a new support (Yellow dotted line) at 6.44% to 6.5%. We can see how perfectly the dominance bounced back from this support level, aiming to reach Resistance 1 at 6.9% to 7%. This move on USDT.D will let BTC and other altcoins bleed more. If you have read my BTC and ETH updates, you will get a clear picture (Link in the description). A drop, on the other hand, will give a little room for BTC and other altcoins to breathe.
Few points to remember if you wish to scalp either short or long.
1. Look for the volatility in the market because scalping works perfectly when the market is volatile.
2. Always use proper SL. Before setting up your targets, you must set your stop losses.
3. Never get emotional with your trades.
4. No matter how much is your portfolio, $100, $1000, or $10,000, book every profit possible depending on your position size.
5. Look into the minutes' chart for scalping and do not stick to one pattern forever.
Note: Scalping involves high risk and returns, so please DYOR before investing.
I hope this tip will be helpful for you. Thank you for reading.
Trade safely.
The USDT dominance has formed a new support (Yellow dotted line) at 6.44% to 6.5%. We can see how perfectly the dominance bounced back from this support level, aiming to reach Resistance 1 at 6.9% to 7%. This move on USDT.D will let BTC and other altcoins bleed more. If you have read my BTC and ETH updates, you will get a clear picture (Link in the description). A drop, on the other hand, will give a little room for BTC and other altcoins to breathe.
Few points to remember if you wish to scalp either short or long.
1. Look for the volatility in the market because scalping works perfectly when the market is volatile.
2. Always use proper SL. Before setting up your targets, you must set your stop losses.
3. Never get emotional with your trades.
4. No matter how much is your portfolio, $100, $1000, or $10,000, book every profit possible depending on your position size.
5. Look into the minutes' chart for scalping and do not stick to one pattern forever.
Note: Scalping involves high risk and returns, so please DYOR before investing.
I hope this tip will be helpful for you. Thank you for reading.
Trade safely.
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