While Tether Dominance is still holding above EMA50 as support on the weekly timeframe, USDC Dominance has gone below... Revealing what's to come.
EMA50 is a very important level specially on the weekly timeframe, as it becomes 7x stronger than the daily.
Here we can see decisively that USDC.D closed below EMA50 last week. This weeks candle/session only work as confirmation as well as the RSI which continues trending lower, the index becoming weaker, hitting its lowest reading in almost three years.
Here is the interesting part, the next target is set to be hit around 3.43% which is the same level as in the week of 9-May 2022.
At that time Bitcoin was trading between a low of $25,000 to a high of $34,000. A wide range but the open of the week happened at $34,000 and the close at $31,000...
Telling us that within a month (days?), more or less, we can see Bitcoin around $30,000 by comparison.