USDC.D Looking bearish as hell here in its Wyckoff distribution range. Compare it to USDT.D and see the similarities.
The difference being USDC.D is leading here and weaker, compared with USDT.D. Both still look great for the downside here and its only a matter of time before they roll over and the market runs to new highs!
USDC.D:
USDT.D:
Once this breaks...
Im loving the look of USDT.D right now, it looks so bearish with the recent HTF closes. It looks done for and in the perfect wyckoff distribution.
Following the plan to a T, rejecting off the 5.90% level as discussed in the prior analysis where this was a key resistance level from the first PSY event. Price has refused to push to the upper limit of the range,...
was to reach the inverse head & shoulder target :)
Almost the same % when the #crypto market topped out last cycle.
Will it?
IDK!
Should u wait to those low single digit numbers before u emabrk on profit taking?
probably not.
We shall keep an eye on this of course.
Best of Luck
I see two possible scenarios playing out:
The Bullish Scenario
The dominance goes lower and respects the current downtrend. This could either bounce off roughly 6% (this area has seen some interesting patterns in the chart) or just continue collapsing down. This would be bullish depending on if we don't have much trouble clearing the 5.8-6% range.
The Bearish...
