Market Cash Flow Overview
USDT.D, 4h
Bullish
The market just had a nice little reset of nearly 4% on BTC. This puts BTC right on the support that we were watching for. If this breaks lower, be cautious of the market turning bearish. Until that happens, this is simply a bullish retest of this level
We’ve been in Bitcoin season for a couple months now and I want to see the altcoins get some of the cash flow and start to run bullish.
Starting this off with a USDT.D chart. This is the market dominance of USDT, so this going down actually shows price increases for most of crypto (Assuming that money isn’t being move to another stablecoin like USDC). In short, USDT.D in on support. This is a pretty strong support level recently, but if this breaks lower it will initiate a strong influx of money into the markets.
Next on the list to inspect is BTC. The market is currently very bullish on BTC as we have made it back into a range that hasn’t been visited since June 2022. As long as BTC stays stable or bullish, I expect to see a lot of money flow come back in to the altcoins. One major level I am watching is the ~$28700 range for BTC. If that lower level of the range is lost, it’s definitely a sign of weakness in the market. But until that happens, the markets are operating on a bullish sentiment.