The chart shows that Tether Dominance is moving inside a descending channel. Based on the wave count, it seems that wave (C) has just been completed, and now we may expect a sharp wave (D) rally. Such a move could trigger a fast market downturn, as rising USDT dominance usually pressures crypto assets.
⚠️ The key condition is whether the channel bottom, which also aligns with a major order block, holds.
* If it holds → wave (D) up, strong bearish pressure on crypto.
* If it breaks → continuation of the downtrend in dominance, allowing altcoins to recover.
📊 Summary:
* Wave (C) completed
* Potential strong wave (D) up → bearish for crypto
* Condition: channel bottom must hold
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