Despite the dollar (DXY) strengthening, the cryptocurrency market showed resilience and held about the same level after the release of good data on Non Farm Payrolls statistics for DXY and bearish data for cryptocurrency market.
👉But now the DXY dollar index has reached a resistance level and rolled back 61% Fibonacci from the recent decline, and the momentum of the rise after the data release has weakened. Perhaps with the dollar index correcting down, the cryptocurrency market will be ready to continue rising. The dollar index should be watched closely. Let's see how the situation develops.
👉But now the DXY dollar index has reached a resistance level and rolled back 61% Fibonacci from the recent decline, and the momentum of the rise after the data release has weakened. Perhaps with the dollar index correcting down, the cryptocurrency market will be ready to continue rising. The dollar index should be watched closely. Let's see how the situation develops.