DXY vs BTC - MACRO 2013-2022 Cycle Hi/Lo
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DXY US Dollar Index , Weekly chart vs Bitcoin .
Again, I'm banging the table how important the DXY is and how it inverses Bitcoin . I'm looking at going back to 2013, but you can go back to 2010 as well. We'll go back to 2013 here.
BTC cycle top 2013. DXY hanging around the lows. DXY went on a bull run. Bitcoin went on a bear run. Bitcoin dropped roughly 86%. DXY topped out, 2016 2017. DXY dropped bear market for the DXY - Bull market for BTC . BTC ran into December, 2017 to 20K, roughly 2500% gain.
Again, DXY went on a run into Covid. Bitcoin went bear, roughly 80% drop on Bitcoin . DXY topped out. Bitcoin went on a bull run Bitcoin up 1400% into 65 K, 69K cycle tops.
DXY went parabolic as we see now into current market conditions. Bitcoin , roughly 75% bear market.
DXY possibly topping out at 114. Overbought on the weekly turning over, overbought on the monthly turning over, overbought on the three month turning over...BUT the daily is getting oversold rather quickly.
So, keep an eye on the DXY .! If this is cycle top for the DXY = near or at cycle bottom for Bitcoin .
If the DXY continues to run, Bitcoin's going to possibly hang around this 18 to 20K support or even go to new lows (watching those BTC CME Futures gaps below us all the way down to 9700)
Keep an eye on the DXY .
Stay chill!
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DXY US Dollar Index , Weekly chart vs Bitcoin .
Again, I'm banging the table how important the DXY is and how it inverses Bitcoin . I'm looking at going back to 2013, but you can go back to 2010 as well. We'll go back to 2013 here.
BTC cycle top 2013. DXY hanging around the lows. DXY went on a bull run. Bitcoin went on a bear run. Bitcoin dropped roughly 86%. DXY topped out, 2016 2017. DXY dropped bear market for the DXY - Bull market for BTC . BTC ran into December, 2017 to 20K, roughly 2500% gain.
Again, DXY went on a run into Covid. Bitcoin went bear, roughly 80% drop on Bitcoin . DXY topped out. Bitcoin went on a bull run Bitcoin up 1400% into 65 K, 69K cycle tops.
DXY went parabolic as we see now into current market conditions. Bitcoin , roughly 75% bear market.
DXY possibly topping out at 114. Overbought on the weekly turning over, overbought on the monthly turning over, overbought on the three month turning over...BUT the daily is getting oversold rather quickly.
So, keep an eye on the DXY .! If this is cycle top for the DXY = near or at cycle bottom for Bitcoin .
If the DXY continues to run, Bitcoin's going to possibly hang around this 18 to 20K support or even go to new lows (watching those BTC CME Futures gaps below us all the way down to 9700)
Keep an eye on the DXY .
Stay chill!
HI/LO FIBS