Closely the next crypto -analyst warns that the crypto -market may not be fixed on the basis of one key indicator.
In the new branch on the Social Networks platform, the Crypto -trader Justin Bennett informs his 115 900 subscribers that the binding diagram (USDT.D) flashes bearings for bitcoins (BTC) and other digital assets.
Many traders closely monitor the USDT.D diagram, as it shows how much crypto -market capitalization consists of Stablecoin Tether (USDT). The bull diagram USDT.D is usually considered a bearish for bitcoins and other cryptocurrencies, as this indicates that traders unload their crypto -academes in favor of stablein.
“You cannot help but feel that we are now at the key level in the crypto market. The dominance of the binding has just provided its highest daily, three -day and five -day closures from the beginning of November, and this area of 4.4% serves as support this week.
Despite how some react, I do not make bold calls (for now), since it is too marginal, and this break from USDT.D may fail. However, this is what you should know and control this month. If we see how the dominance of attachment drops back in the range on high time framework, in particular, back below 4.37%, I would turn up with short -term bull bullies. Until then, in my opinion, caution is necessary. ”
Further, Bennett predicts that Ethereum (ETH) cuts in the near future after he restores $ 2600 as support.
“It is not surprising that on Monday, Eth Bounce bounced as it was, given that he was at risk of losing a mandatory level of $ 2600. But pay attention to where the session on Tuesday closed relative to this key $ 2800. Now pay attention to today’s maximum. I still expect to fight back, but the bulls are not yet in the forest. “
ETH is traded by $ 2705 at the time of writing, which has decreased by 1.9% by 1.9% over the past 24 hours.
Finally, Bennett suggests that Bitcoin can return to the range of $ 91,787.
“A good rebound from BTC on Monday from the minimum ranges, but not a very big look with the session on Tuesday, closed below 98,000-99,000 dollars on average. Thinking that we can see how Bitcoin slide is lower to aim at the lower wick on Monday. ”
Bitcoin is traded by 96,713 US dollars at the time of writing, which has decreased by 1.6% over the past 24 hours.
