#Bitcoin   - Bears are making a big mistake ?

There is an inverse correlation between USDT dominance and Bitcoin.

If you look at the dominance chart, it has been in a downtrend since the Bitcoin bottom, and it recently broke below the 5% mark [red box].

Currently the dominance is re-testing the point of breakdown which looks like a bearish re-test

On the other hand,If you look at BTC, it has closed one of its highest weekly candles and is testing its previous all time high, which looks like a bullish re-test

Yes, BTC is down about -19% from its recent highs, but this is very normal and in this cycle we've already seen 4 such corrections between -20% to -23% since the bottom.

There might be a bit more downside left, but selling now could be a mistake.

If USDT dominance gets rejected and BTC holds its current levels, we might see another upward move soon..