DXY - Breakdown Could Launch BTC
Right now the DXY, (US Dollar index), on the left chart has hit a critical trendline (yellow trendline). This doesn't happen often as we have only tested this trendline 5 times since November 2022. Each test of sell pressure is represented by a red arrow.
Every time the DXY has sold off from this trendline BTC has had major rallies. This is indicated by green arrows in the BTC chart on the right.
If the DXY breaks down again from here we could see BTC revisit the key 72k level.
Every time the DXY has sold off from this trendline BTC has had major rallies. This is indicated by green arrows in the BTC chart on the right.
If the DXY breaks down again from here we could see BTC revisit the key 72k level.
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