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Usdcdanalysis

USDC.D In a Wyckoff Distribution range - Breakdown imminentUSDC.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 down with USDT.D, we are in for the next bullish expansion in the market to new ATHs!
CRYPTOCAP:USDC.DShort
by marshyyy
USDCDA Economic Data: Pay close attention to economic data releases from both the United States and Canada. These can include GDP growth, employment numbers, inflation rates, and interest rate decisions from their respective central banks (the Federal Reserve for the US and the Bank of Canada for Canada). Commodity Prices: The Canadian economy is heavily reliant on commodities, particularly oil. Therefore, changes in oil prices, as well as other commodities like gold and copper, can significantly impact the CAD. Be sure to monitor global energy markets and other key commodities. Interest Rates: Central bank interest rate decisions and policies are crucial in determining the relative strength of the USD and CAD. Diverging interest rate policies can lead to significant movements in the exchange rate. Geopolitical Events: Geopolitical events, such as trade tensions, can impact the USD/CAD pair. Keep an eye on developments related to trade agreements, tariffs, and political relations between the two countries. Market Sentiment: Traders' sentiment and market speculation can drive short-term fluctuations in exchange rates. Be aware of market sentiment, which can be influenced by news and events. Technical Analysis: Study technical indicators, such as moving averages, support and resistance levels, and trend patterns, to identify potential entry and exit points for your trades. Correlations: Understand how the USD/CAD pair correlates with other currency pairs or assets. For example, it tends to have an inverse relationship with the price of oil. Risk Management: Implement proper risk management strategies to protect your trading capital. This includes setting stop-loss orders and not overleveraging your positions. Long-Term Trends: Consider the long-term trends in the USD/CAD pair. Are there any fundamental shifts in the economies or policies of the United States or Canada that could influence the long-term direction of the exchange rate? News and Events: Stay informed about news events that can influence market sentiment. This includes economic announcements, political developments, and unexpected events like natural disasters. Please note that the foreign exchange market can be highly volatile, and currency trading involves risks. It's essential to conduct thorough research and potentially seek advice from financial experts before making trading decisions. Additionally, my information is accurate as of January 2022, and the currency market may have experienced significant changes since then. Always use the most up-to-date information when making trading decisions. Is this conversation helpful so far? Regenerate
Long
by rahmaniuk007
2
USDC DOMINANCE: HOLDING THE SUPPORT.Hello traders, welcome to this USDC dominance update. I hope you guys followed my previous USDC.D update. If you haven't then do check out the link below and go through the update. Timeframe: 3 Days. Description: USD Coin ( USDC ) is a cryptocurrency whose value is tied to the U.S. dollar. USD Coin is a stablecoin, and as such one USDC should always be equal in value to one dollar. USD Coin is currently the second-largest stablecoin, with a current market capitalization of $73 billion. USD Coin and Tether (USDT) together account for 80% of the capitalization of the global stablecoin market. Update: This is what I wrote in my previous update, "The USDC .D is unable to break through the 7% resistance level. This could be a clear sign of rejection towards the lower band of the trendline (2.5%). But before it does that, there's a support at a 5% level from where USDC .D may possibly bounce back." The USDC.D reached up to 7.26% but failed to break through the trendline. So far it has dropped by -26% and currently, it is holding the support at 5.32%. Support Level: As I said in my previous update, the 5% level holds support for the USDC.D could be the level from which we can expect a bounce back. Possible scenario: If the USDC.D manages to hold this support level and bounces back then it is most likely going to reach 6.6% or 8%. On the other hand, if the USDC.D breaks down below the support line then we can expect a fall up to the lower support zone at 2.6%. Conclusion: All I want to say is the market is yet to confirm a short-term bullish rally. Everybody is talking about BTC reaching $28k to $30k, which is likely possible but almost every time, we tend to follow the crowd and fail to do our own research. Anyways, most likely this support level will decide the market scenario in the next few days. The way BTC is doing a P&D leaving behind long shadows, I honestly don't like it. So, for me, I will wait for confirmation on this one. Let me know what you think about this update. I would love to read your opinion as well. Thank you and trade safely.
CRYPTOCAP:USDC.D
by Dexter_The_Trader
USDC DOMINANCE: SOON TO REJECT!Hello traders, I hope you guys are doing great. Here's an update on USDC Dominance. Timeframe: 3 Days. Update: The market is dropping once again as expected. With the recent rally, it is likely to see the USDC.D at 7.5% where we have a strong resistance which means BTC can possibly reach $17k. I strongly feel that we will soon see rejection in the USDC.D. The fundamentals related to cryptocurrency may not be positive but technically, the market will turn green soon. RSI: The RSI in USDC.D has been hovering in the overbought zone for quite a while and sooner or later, it has to come down. Conclusion: The big players are playing a big game here. The recent dump has already created panic in the market. Noobs are selling off and guess who is buying? You guys are smart enough to understand the market sentiment, so, this time don't be a flock of sheep rather be a tiger who waits patiently for the right moment. Show some support with your likes and comments. Thank you.
CRYPTOCAP:USDC.DShort
by Dexter_The_Trader
USDC DOMINANCE: REJECTION POSSIBLE!!!Hello wonderful traders, welcome to my quick USDC Dominance update. Timeframe: 3 Days. Description: USD Coin (USDC) is a cryptocurrency whose value is tied to the U.S. dollar. USD Coin is a stablecoin, and as such one USDC should always be equal in value to one dollar. USD Coin is currently the second-largest stablecoin, with a current market capitalization of $73 billion. USD Coin and Tether (USDT) together account for 80% of the capitalization of the global stablecoin market. Update: The USDC.D is unable to break through the 7% resistance level. This could be a clear sign of rejection towards the lower band of the trendline (2.5%). But before it does that, there's a support at a 5% level from where USDC.D may possibly bounce back. Parallel Relation with BTC: If the USDC.D gets rejected towards the 5% support level, it will be a -17% drop which means the current bounce in BTC could rally up to $28k to $30k where we have strong resistance. And if the USDC.D bounces back from the 5% support level then BTC will surely get rejected from its resistance level. Relative Strength Index: The RSI is beyond 70 indicates that it is overbought. The RSI needs to come down in order to maintain the balance. On the other hand, the RSI in BTC is oversold which means the price of BTC will possibly rally. Conclusion: We are at the end of the 2nd quarter and I expect the beginning of the 3rd quarter to be bullish for the market. What is your view on the current market situation? Share with me your thoughts and ideas. I will be glad to read them out. Thank you for your support.
CRYPTOCAP:USDC.DShort
by Dexter_The_Trader
6