USDCD looking bearish
USDC.D
1W/2D Charts
USDC dominance continuing to look bearish here as I mentioned back in early Feb.
Rejecting from the previous high and failed to put in a HH and close above it. Weekly close looks daily bearish with a bearish shooting star reversal candle.
Market structure has changed failing to put in a HH with price struggling to maintain the uptrend. Bearish momentum starting with bigger sell candles printing.
RSI is bearish having lost the MA on 2D chart which on the last 3 occasions has started the downtrend in USDC.D and uptrends within the market for BTC and altcoins as shown by the black arrows and callouts. Also showing bearish divergence on the RSi and weekly MACD starting to converge.
Looking good here for USDC.D as well showing the dynamics shifting and money flow exiting stables and into the market.
Id still be cautious given the macro economic POV but the TA looks great here. As I’ve been saying, coins have been in weekly lows and demand zones and good for DCA buys which I’ve been doing on some coins.
1W/2D Charts
USDC dominance continuing to look bearish here as I mentioned back in early Feb.
Rejecting from the previous high and failed to put in a HH and close above it. Weekly close looks daily bearish with a bearish shooting star reversal candle.
Market structure has changed failing to put in a HH with price struggling to maintain the uptrend. Bearish momentum starting with bigger sell candles printing.
RSI is bearish having lost the MA on 2D chart which on the last 3 occasions has started the downtrend in USDC.D and uptrends within the market for BTC and altcoins as shown by the black arrows and callouts. Also showing bearish divergence on the RSi and weekly MACD starting to converge.
Looking good here for USDC.D as well showing the dynamics shifting and money flow exiting stables and into the market.
Id still be cautious given the macro economic POV but the TA looks great here. As I’ve been saying, coins have been in weekly lows and demand zones and good for DCA buys which I’ve been doing on some coins.
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