Tether Dominance | 3 Strikes & You Are Out! (Head & Shoulders)

22 Jun 2022

We have the 3 heads pattern on the Tether Dominance Index (USDT.D) chart.

This pattern is equivalent to the Head & Shoulders and we are all familiar with it.

It comes up at the top of a trend and signals a potential reversal.

The last candle that closed just minutes ago, marked on the chart (22 Jun '22 04:00), is very telling.

We can see a strong rejection in the form of a full bearish candle to push prices below all the main moving averages, that is EMA10, EMA21 and EMA50.

Both the MACD and RSI went from bullish to bearish, strong to weak...

And so we see a continuation of the bearish bias that we've been tracking thrgouh this index...

As USDT.D goes down, BTCUSD goes up.

Namaste.