This chart is showing the dollar index and will help me to explain about the route for BTC.
Dollar grew from May until now, and you know dollar is in downtrend.
When dollar goes up, BTC goes down and viceversa.
Look closely at the chart, the dollar is going down now for 3 major reasons:
1- strong resistance zone in daily TF
2- negative divergence
3- bearish engulfing pattern in daily TF
Government needs to show a strong dollar due to the inflation but the chart is the chart at the end of the day. Dollar goes down.
Guys BTC is going up very soon.
Follow me for more updates.
BTCUSD
Dollar grew from May until now, and you know dollar is in downtrend.
When dollar goes up, BTC goes down and viceversa.
Look closely at the chart, the dollar is going down now for 3 major reasons:
1- strong resistance zone in daily TF
2- negative divergence
3- bearish engulfing pattern in daily TF
Government needs to show a strong dollar due to the inflation but the chart is the chart at the end of the day. Dollar goes down.
Guys BTC is going up very soon.
Follow me for more updates.
BTCUSD