In the world of crypto trading, patterns speak volumes, and one pattern that's caught attention recently is the Ascending Broadening Wedge. If you're a seasoned trader, you know that these rarely end well for the market. More often than not, they signal bearish trends ahead. ๐
Right now, we're seeing USDT Dominance locked into this pattern for over 6 months.
๐ Thatโs half a year of consolidation in a structure that typically points to downside risk. For those unfamiliar, USDT Dominance represents the market share of Tether (USDT), the most widely used stablecoin, in the crypto space. When USDT dominance rises, it usually means more traders are moving to stablecoins, potentially exiting volatile positions in altcoins or Bitcoin.
So, what does this mean? Right now, we could be witnessing just a bearish backtest of the pattern, meaning the market is retesting these levels before making a significant move. This isn't the end though. The real excitement comes after this period, where many believe we could finally witness the long-anticipated Altcoinseason! ๐โจ
Altcoinseason is when altcoinsโcryptocurrencies other than Bitcoinโsee explosive gains, often outperforming Bitcoin in the short term. If youโve been following the charts and are eager for your favorite altcoins to surge, this could be the setup youโve been waiting for. ๐ฏ
Historically, altcoin seasons come in waves, usually following periods of Bitcoin dominance. Once the market shakes off its bearish tones, itโs time for the altcoins to shine. Whether you're holding Ethereum, Solana, or one of the many promising DeFi tokens, this could be the perfect opportunity to position yourself for the next major bull run. ๐๐ธ
๐ Get ready and stay informedโthe coming weeks and months could define the next chapter in crypto!
#CryptoMarketAlert #AltCoinSeason #USDTScamAlert #TCUptober $SOL
