According to the developments observed in crypto markets, analyst Justin Bennett, Bitcoin $97,520.54He said that there may be difficulties in capturing a significant exit in the near future. Bennett made assessments that investors should be cautious in the market.
EFFICIENT INDIVATIVES
The indicator in Bennett’s analysis was the Tether Dominance (USDT.D) graph. This graph shows the share of stable crypto assets at the total value of the crypto currency market. At high levels, USDT.D indicates that investors are turning to stable crypto to protect their portfolios.
Market Dynamics
The analyzes emphasize that Bitcoin can move horizontally or downward at the current price levels. While USDT.D protects the support level, the uncertainty and fluctuations in the market, investors need to follow this closely.
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According to Justin Bennett: “The difficulty for BTC bulls lies in the fact that Tether dominance remains above the previous December heights since February 5 and testing it as a new support. If USDT.D returns to the range in high time periods, positive orientation is possible in the market; Otherwise, prices may be horizontal or in a tendency to decline. This is not guessing, but depends on the reaction of the market. ”
Bennett drew attention to the number 4.37% on support levels. He said that if this level was broken, investors can develop optimism against Bitcoin and other crypto currencies. For now, USDT.D is just above this support level.
Analyst also stated that investors who have opened positions in the market with short -term purchase transactions may have to close their positions at certain price levels, so that there may be a short -term price splashing. This indicates that it may lead to sudden fluctuations.
Market participants closely emphasizes the importance of cautiously being cautious while watching the course of Bitcoin and other digital assets. In the light of existing data, investors may choose to determine the strategy by reference to USDT.D graph. This assessment reveals that considering the uncertain dynamics of the market, it should be followed carefully.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
