There is no doubt we are under pressure from both sides bears and bulls.
DXY (Dollar Index) reached a new high this week which forced BTC to drop.
Potentially next week DXY might reach between 93 and 95 and will push the price of BTC lower.
I see BTC inside a channel in a downtrend which might lead to $20k in the next 2 months or so, not in July or August.
We might see $29k or $27k due to the growth of DXY the Feds are pushing a strong dollar to impulse the economy so this is something we have to deal with and accept.
However, the bull for the DXY will be done this month and then there is a retracement to 87 potentially. If this happens is good for BTC and the bulls.
That's why in my chart I'm connecting this parallel events, we go down yes but we'll go up as well.
BTC will please the bears at $27k where there are a lot buyers and a potential growth of $10k per coin will be the reward for Bulls.
Then we will go down again.
If we go down, all cryptos will. But when we go up from $27k to $37k or somewhere the rest of the cryptos will have moon big time.
We are living in ALT COIN SEASON.
Let's enjoy the party, even going down we can be very happy.
Follow me for more analysis.
DXY (Dollar Index) reached a new high this week which forced BTC to drop.
Potentially next week DXY might reach between 93 and 95 and will push the price of BTC lower.
I see BTC inside a channel in a downtrend which might lead to $20k in the next 2 months or so, not in July or August.
We might see $29k or $27k due to the growth of DXY the Feds are pushing a strong dollar to impulse the economy so this is something we have to deal with and accept.
However, the bull for the DXY will be done this month and then there is a retracement to 87 potentially. If this happens is good for BTC and the bulls.
That's why in my chart I'm connecting this parallel events, we go down yes but we'll go up as well.
BTC will please the bears at $27k where there are a lot buyers and a potential growth of $10k per coin will be the reward for Bulls.
Then we will go down again.
If we go down, all cryptos will. But when we go up from $27k to $37k or somewhere the rest of the cryptos will have moon big time.
We are living in ALT COIN SEASON.
Let's enjoy the party, even going down we can be very happy.
Follow me for more analysis.