Descrição
⋅ This is a continuation of the correlation between #tether and #Bitcoin. The RSI of BTCUSD/USDT shows how the price of over-sold currently.
Moreover, during the last period, there was a steep drop from the high.
Two scenarios can pan out here...
1. If more USDT is burnt, RSI would rise and price can fall further.
2. Price could recover with respect to USDT market cap
Moreover, if RSI rises due to USDT burning we can anticipate it in the beginning.