Chartered Market Technician. Cycles, crowds, psychology. I don’t predict — I observe structure. Less noise. More signal.
Joined on 15th November 2024
Boston, MA
This is using the BTC CME chart just because its cleaner, but the channel can be drawn on any BTC chart
Losing such a major long-term channel and uptrend line can be pretty nasty
Per Hurst Cycle Theory, this could be the the breakdown of a VTL that tells us we can start to prepare for a cyclical low to be in
It would still take up to a few months, but it is getting closer and closer
The USDT.D chart is on the cusp of a Golden Cross of the 50/200 weekly SMAs. These often appear before new uptrends
USDT dominance rising is associated with drawdowns in crypto
You can see bottoms in USDT.D are anti-correlated with Bitcoin tops
Historically, Bitcoin bottoms when USDT.D sets a new all-time high
There hasn't been a new high in USDT.D this cycle. If the Golden Cross is pointing to more uptrend in USDT.D, it could mean much more downtrend in Bitcoin and crypto
