Here DXY is performing a major breakout to the upside, which will put it in a bull run for some weeks
We have bullish divergence on the daily and weekly, and hidden bullish divergence on the monthly
Talk about a momentum shift. After the 9-10 month bearish run it is now very likely gonna be the opposite for the dollar
This should cause weakness in BTC and the rest of crypto, as they essentially are currencies traded against the dollar
Also, this should cause weakness in gold and silver as there is more confidence in the dollar again
Should make USDXXX pairs very strong on the FX markets also
I think the run will be stopped by fears of dollar inflation due to the sheer amount of QE taking place which will flip the momentum back to BTC, gold and their counterparts - imma hedge a guess for late spring early summer
Remember your trade may go the wrong way due to DXY strength, don't get frustrated.
Side note, yesterday in a Youtube Webinar the US Central Bank leader, Powell, confirmed the move to central bank digital currencies in the future, so crypto should win eventually!
We have bullish divergence on the daily and weekly, and hidden bullish divergence on the monthly
Talk about a momentum shift. After the 9-10 month bearish run it is now very likely gonna be the opposite for the dollar
This should cause weakness in BTC and the rest of crypto, as they essentially are currencies traded against the dollar
Also, this should cause weakness in gold and silver as there is more confidence in the dollar again
Should make USDXXX pairs very strong on the FX markets also
I think the run will be stopped by fears of dollar inflation due to the sheer amount of QE taking place which will flip the momentum back to BTC, gold and their counterparts - imma hedge a guess for late spring early summer
Remember your trade may go the wrong way due to DXY strength, don't get frustrated.
Side note, yesterday in a Youtube Webinar the US Central Bank leader, Powell, confirmed the move to central bank digital currencies in the future, so crypto should win eventually!