Bitcoin (BTC) and USDT Update – 12 Hour
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BTC update
Yesterday, BTC found support at the $37200 level. We are currently at $39000, which is 5% up since yesterday. There is overhead resistance at around $42000, with the 0618 retracement being at $42430. We could possibly test that overhead resistance level this week. If the $36000 – $37000 support does not hold, the next support is at $33400. What is interesting is that the 12HR Stochastic RSI is at the bottom, and has crossed to the upside.
USDT Dominance update
Yesterday, USDT found resistance at 4.75%, and has started to trend down, with the next support being at 4.5%. If USDT breaks the 4.5% support, the all-important 4.25% provides the next level of support, which is in the same area as the Daily Support line, which originates from November 2021. A break of that Daily support line would be very bullish for the market
