Expecting 4h dip to be Short-Lived

Jul 10, 2023

Bitcoin and DXY tend to do the opposite of each other, even if they do the same thing on lower time-frames, they eventually catch up and move in a negatively correlated manner.

Bitcoin has dipped after tapping 31k. I believe the dip will be short-lived and we should see DXY continue down into lower 101s while Bitcoin continues up into the 32k area.

DXY 4h chart:

Jul 11, 2023

Note

DXY hit my TP 1 overnight, still expecting Bitcoin to follow (in the opposite direction) soon:

Jul 11, 2023

Note

DXY hitting TP from above, in the perspective with Bitcoin:

Jul 12, 2023

Note

DXY reached my 1st target and has moved down towards TP 2, still expecting Bitcoin to follow (in the opposite direction)

Jul 14, 2023

Trade active

Closed the daily above our highs as DXY moved down below 100, so far a successful re-test of those highs - expect we continue up to targets