Hopefully we get a reversal soon and confirm the double top on USDC dominance.
This could be MEGA FREAKING BULLISH for crypto.
Going from 2.2% back to 1% would be incredibly bullish!
1W/1D:
Prince come into a daily supply zone and formed a new downtrend of LL’s and LH’s with bearish crossover on the MACD and sell on the UCTS. Weekly candle is bearish engulfing also so good confluence of USDC being put into the market instead of being sat in stable coins causing USDC.D to rise.
couple of options could play out when it meets the daily demand...
Target is the blue area between the two orange vertical lines
1st Sl: below 1.618 ( below the red area )
2nd Sl: making new lows after the time period between the two blue vertical lines
If both stop losses trigger as long as the pattern is valid a new entering price must be found
* Disclaimer: This is not investment advice
When the USDC Dominace come down and ross Green-band: stop buy, say no FOMO and think about take profit;
When the USDC Dominace grow up and ross Red-band: top cry, say DCA first and buy anything, not all in;
Good luck,
oct 2020 where usdc.dominance top hit , btc.usd started bull run while usdc.d was corrected , dont know about you but when i look at this chart i see the top , so this is a good sign for bitcoin , also rsi is on over level and need to cool off
