We just finished a 5 wave impulse to the downside, now being that we are in an ending diagonal I see the market risking before we get a clear picture of what will happen with the Dollar Index as the week starts moving.
-The correction should be short lived given that the majority of people shorting right now are chasing the market.
-DXY is also in a correction towards $95 area. This will drag bitcoin down, as well as the Comex gap. However it is Saturday and I do not expect the DXY to be a leading indicator until Sunday.
-We also have a 4 hour bullish divergence, generally a solid indication of a turning point.
-The point of control from the drop was 11,800, this would be the highest I expect the market to go before we see the gap to $9500 occur.
-DXY is drawing attention from the majority of traders here, this is giving way for FOMO shorts the whales will most likely dip into this liquidity, this is a perfect time to go against the grain.
-The correction should be short lived given that the majority of people shorting right now are chasing the market.
-DXY is also in a correction towards $95 area. This will drag bitcoin down, as well as the Comex gap. However it is Saturday and I do not expect the DXY to be a leading indicator until Sunday.
-We also have a 4 hour bullish divergence, generally a solid indication of a turning point.
-The point of control from the drop was 11,800, this would be the highest I expect the market to go before we see the gap to $9500 occur.
-DXY is drawing attention from the majority of traders here, this is giving way for FOMO shorts the whales will most likely dip into this liquidity, this is a perfect time to go against the grain.