• DXY is an important chart which is often neglected to one’s loss.
• E.g. BTCUSD has been stagnating recently because of DXY temporarily trending upwards the past 2 days.
• Anyway, DXY has been in a downward parallel channel since 1986.
• We have reached the top end of the channel, and are currently in wave C of the correction.
• Monthly RSI is evidently bearish.
• Target coincides with two trendlines and the 1.618 Fib level.
• We should be able to reach 80 eventually.
• This bodes well for the current crypto bullrun.
• Watch the MAs though. There should be downward momentum when the 20M MA is above the 21M EMA. However, they may be crossing soon and lengthen Wave C.
• Nonetheless, on a macro level, we should be able to reach 80 eventually. Or, at the very minimum, 82.5.
• Dubious speculation: we have had double peaks in the previous two bullruns, will it be possible that DXY dumping may extend this bullrun and give us three peaks?
• E.g. BTCUSD has been stagnating recently because of DXY temporarily trending upwards the past 2 days.
• Anyway, DXY has been in a downward parallel channel since 1986.
• We have reached the top end of the channel, and are currently in wave C of the correction.
• Monthly RSI is evidently bearish.
• Target coincides with two trendlines and the 1.618 Fib level.
• We should be able to reach 80 eventually.
• This bodes well for the current crypto bullrun.
• Watch the MAs though. There should be downward momentum when the 20M MA is above the 21M EMA. However, they may be crossing soon and lengthen Wave C.
• Nonetheless, on a macro level, we should be able to reach 80 eventually. Or, at the very minimum, 82.5.
• Dubious speculation: we have had double peaks in the previous two bullruns, will it be possible that DXY dumping may extend this bullrun and give us three peaks?