Beware reaction
On June 19, I made a prediction on X, and now we all can see how accurate and safe it is. No matter which cryptocurrency you’re trading, if USDT’s dominance remains above 7.2% for 8+ hours, it will confirm that the downtrend is continuing. A failure to hold above that level will signal a final bullish rally before the bear market resumes. If the bullish rally is the case, I would take profits on Dogecoin at the 0.143, 0.163, and 0.23 levels. Hovever, my base case is 0.0324 and probably 0.0094. https://www.tradingview.com/x/HjIRYmHR/ As you may know, bonds is a key driver for many collateral markets, thus it has a negative correlation. It is called Cross-market analysis, one of the safest approaches in trading systems. My base case is the one you see on the 10-year yields screenshot, i.e. - a simple one, regular. However, I see two more possible scenarios for the price structure of U.S. Treasuries may take: 1) An Ending Diagonal - the swings within this structure will likely be accompanied by a strengthening of the Japanese yen, a slow increase in raw commodity prices and metals, also a possible rise in cryptocurrency prices - in the near term. I.e, if this would be the case - bonds will pull back from the current values to the lower trend-line of the triangle: ~4.185%. 2) What really matters is the alternative waves count interpretation: the pattern above may turn out to be a Zigzag, rather than an impulse. In that case, the target will reach above 7.66%. This case means an aggressive downward for all the collateral markets. There is a video on youtube. In the second part, I describe how I identified 2 probable bearish targets for Dogecoin price. I've been pointing to these targets since 2022 how I found them. I think achieving these goals will largely depend on the shape that U.S. Treasury bonds will take.
