USDT.D - Mixed Signal Market Cap USDT Dominance, %CRYPTOCAP:USDT.DVIAQUANTOne idea that is contrary to my most recent BTC post is what I am currently seeing with Tether dominance. To understand what I mean, it is important to go back to my past two USDT.D posts: I was predicting a local high forming around the 9.25% level, followed by a rejection from overbought conditions that would flip trend momentum to the downside and signal cash re-deploying back into the crypto markets. This is exactly what played out. The high came in on June 25th at 9.35%, with all subsequent daily candle bodies closing below my yellow ray. Trend momentum began shifting on June 26th right from overbought conditions, confirming the rejection I was predicting. Since then, Tether dominance has declined over 1% as cash has been redeployed into the market, driving crypto prices higher. Dominance has now reached a very interesting level, the 8.25% level I have outlined with a blue ray and labeled "Key Level." Even before dominance reached this level following the breakout, I had already been outlining this as a key future level to watch. You can view that past idea here: This is now the second time dominance is attempting to form a low at this exact level, which is why it stands contrary to my bullish outlook for Bitcoin outlined in this recent idea: If USDT.D forms a low here and begins rising, that would signal a risk-off shift for the rest of the crypto market, causing prices to decline as participants exit crypto assets and convert back to cash, which would not support the continued move to the upside I have been outlining. Yesterday, USDT.D formed a daily reversal doji that has started pushing dominance higher and crypto prices lower. This also coincides with a double bottom forming right around the 8.25% key level. Adding to this, a hidden bullish divergence is forming on the RSI, a higher low or double bottom on dominance paired with a lower low on the RSI. Because of this, it is imperative that we see dominance fail to climb and instead close below the key level with a confirmed daily close, in order for Bitcoin to break higher and dominance to fall back toward the top of the parallel channel. This could actually be aligning with a rejection from the level that was previously holding dominance to the upside. As long as daily candle bodies continue closing below this trendline, the entire contrary idea just laid out is invalidated, and BTC should continue to the upside while dominance continues to decline: I am sticking to my primary thesis that crypto is still likely to climb, which would mean dominance should start rolling over again from here. But given the early developments I just outlined, I wanted to flag this contrary signal so we are prepared in case this does turn out to be a local low forming for Tether dominance.