Analyst Justin Bennett says about a challenge against Bitcoin Bulls, says one of the factors to determine the direction of BTC
One of the main standards, a coding analyst says that one of the main standards indicates that Bitcoin (BTC) may have difficulty in outbiting any time soon.
In a new topic, Justin Bennett encryption tradition Recount Its 115,800 followers on the social media platform X The Tether (USDTT.D) is tending to Bitcoin.
Several merchants closely watch the USDT.D chart as it shows the maximum of the maximum Crypto market consists of Stablecoin USDT.
The upper USDTTTTTTTTTTAD chart is generally declining for bitcoin and other cryptocurrencies because it indicates that merchants empty encryption holdings in favor of Stablecoin.
Bennett says,
“Here is the challenge facing the BTC Bulls: Tether Homanance above its previous highest levels since February 5, and it is now testing this field as a new support. If the USDT.D retracts within the range on high time frames, we have a bullish encryption market. If this is not able to do so, we are not able to do so. Expect a side decrease in BTC, ETH, etc.
Trading He says It would only turn the climb to Bitcoin if you lost USDT.D 4.37 % as support.
“Tether’s dominance has suggested a cautious approach to encryption since early February. I said it for weeks. I’m sure we will face short taxes along the way, but there is still any reason for rating in BTC, ETH, etc.. If 4.37 % fail, that changes that .
Usdt.d 4.47 % at the time of writing this report, indicates that the level of trading support is kept.
Also circulated He says This bitcoin may be the stage of the theater for short pressure.
Short pressure occurs when traders who borrow one of the assets are forced at a certain price in the hope of selling it to less than the difference of the difference to the re -purchase of the assets they borrowed with the movements of momentum against them, which leads to more gatherings.
“A decent amount of liquidity is the purchase side between the current levels and 100,000 dollars. Then we see whether Gramps can reach $ 103,000. It is not beautiful, but with the presence of shares that collect in hopes and dreams, there is a decent opportunity that this part ends Side with bitcoin shorts.
Bitcoin is traded for $ 97,271 at the time of this report, an apartment per day.
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