DXY hitting resistance area & pullback (crypto rally?)
Looking at my DXY zones of likely corresponding crypto effects...
At this resistance area for the DXY, I would expect some kind of short to medium term pullback over the coming days or weeks.
This would likely correspond to some level of bounce in Bitcoin, which I'm also expecting once it falls down to the $22,200 level, creating what looks like a Bull-Flag setting up.
The big question is whether we do get a deeper crash, and see the DXY push above the 105.50 range which would likely push BTC to re-test the recent lows between $15.5k and $15.5k
A DXY push above 106 would likely see Bitcoin and total crypto market cap hitting new lows, and finally see the kind of capitulation we would like to see at a true market bottom.
Thoughts and comments welcome below.
At this resistance area for the DXY, I would expect some kind of short to medium term pullback over the coming days or weeks.
This would likely correspond to some level of bounce in Bitcoin, which I'm also expecting once it falls down to the $22,200 level, creating what looks like a Bull-Flag setting up.
The big question is whether we do get a deeper crash, and see the DXY push above the 105.50 range which would likely push BTC to re-test the recent lows between $15.5k and $15.5k
A DXY push above 106 would likely see Bitcoin and total crypto market cap hitting new lows, and finally see the kind of capitulation we would like to see at a true market bottom.
Thoughts and comments welcome below.
23-year investor, trader, and early investor in Bitcoin & crypto.
For more information visit:
Moonstream Crypto: www.Moonstream.io/M3
Custom Indicators: www.CryptoMastery.org
Blood in the Streets Report:
www.moonstream.io/report
For more information visit:
Moonstream Crypto: www.Moonstream.io/M3
Custom Indicators: www.CryptoMastery.org
Blood in the Streets Report:
www.moonstream.io/report
