DXY is testing a major resistance area

4 Eki 2022

After a massive rally of dollar, people were selling everything to buy dollars.

now dollar is testing a 10-year resistance. which means we could definitely see the massive corrections in other markets. including bitcoin or stocks. I believe bitcoin is not going below 18k for time being.

bitcoin is probably heading toward 30k - 32k area. within few weeks. (Only if DXY unable to break huge resistance area)

also, bitcoin was very oversold which means the market will eventually have massive correction.

We can also see the huge monthly RSI divergence. which means the momentum is shifting.

Last 11 months rally was huge and the whole world economy collapsed due to dollar bull run. i think now it's time for dollar to get a good correction.

if we take look SRI LANKA economy vanished into thin air. also, country like Pakistan were struggling to keep up with the inflation.

DXY has huge impact on BTC however Bitcoin was still performing better than worlds most powerful currencies.

NOW we need to take a look at CPI report in order to take further action. 13 OCT is the big day.. that's when we are going to take action.

Have a good day :)