DXY V/s Bitcoin Correlation :-
TF:- 2W
✨DXY is currently at $103 Level.
✨Multiple Price Rejections are seen from Support & Resistance zones.
✨RSI bearish Divergence is also seen, While RSI is in OverBought levels.
✨Bearishness is expected in DXY by looking at Current Price Action.
✨We need to wait till the confirmation of Price Rejection from the Resistance zone .
✨ If the Price reject then it can go to the levels of $95 , $93 or $90
✨ For Bullishness in DXY = Price needs to give a Breakout of $103 level with Strong Bullish Green Candle and should give closing above it.
✨If DXY gives a Breakout, Then the Price can go up to levels of $115 - $120 or higher.
Conclusion =
= If DXY Breakout Above $103 Mean Bitcoin Super Bearish and Target would be $25000-$30000 Again.
= If Rejection as per the chart then we can see Bullish Mode Continues And Target would be $52800/$100k
Folmula = Y = 1/X
Where Y = DXY
and X = Bitcoin
Thank you for Reading.
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TF:- 2W
✨DXY is currently at $103 Level.
✨Multiple Price Rejections are seen from Support & Resistance zones.
✨RSI bearish Divergence is also seen, While RSI is in OverBought levels.
✨Bearishness is expected in DXY by looking at Current Price Action.
✨We need to wait till the confirmation of Price Rejection from the Resistance zone .
✨ If the Price reject then it can go to the levels of $95 , $93 or $90
✨ For Bullishness in DXY = Price needs to give a Breakout of $103 level with Strong Bullish Green Candle and should give closing above it.
✨If DXY gives a Breakout, Then the Price can go up to levels of $115 - $120 or higher.
Conclusion =
= If DXY Breakout Above $103 Mean Bitcoin Super Bearish and Target would be $25000-$30000 Again.
= If Rejection as per the chart then we can see Bullish Mode Continues And Target would be $52800/$100k
Folmula = Y = 1/X
Where Y = DXY
and X = Bitcoin
Thank you for Reading.
Don't forget to Like and Share.
Show Some love in the Comments.
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Twitter: twitter.com/CryptoPatel
Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.