The US Dollar has broken below its ascending channel structure. The Ichimoku Cloud is now serving as a resistance zone, suggesting ongoing bearish pressure. If the retest of the broken pattern holds, further downside movement is likely.
Given the usual inverse relationship between the US Dollar and the cryptocurrency market, this development could carry notable implications for crypto traders.
Stay alert!
Given the usual inverse relationship between the US Dollar and the cryptocurrency market, this development could carry notable implications for crypto traders.
Stay alert!
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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.