RSI divergence in EURUSD and USDJPY suggests DXY down, BTCUSD up
hi there, fellows.
we've shown in previous idea the inverse relationship between DXY and BTCUSDT.
the main components of DXY are EUR and JPY.
we see an RSI bullish divergence in EURUSD, as well as an RSI bearish divergence on USDJPY.
that being true, DXY won't breakout the 109 resistance, thus now will BTCUSDT breakdown the 19k support meanwhile.
coupled with the greatest accumulation in BTC history, we expect an upward move in BTCUSDT in the short term, potentially within 21k2, 22k5 range.
that does not change the downtrend on BTCUSDT, nor the uptrend on DXY, rather we see it as a short term relieve.
best regards.
we've shown in previous idea the inverse relationship between DXY and BTCUSDT.
the main components of DXY are EUR and JPY.
we see an RSI bullish divergence in EURUSD, as well as an RSI bearish divergence on USDJPY.
that being true, DXY won't breakout the 109 resistance, thus now will BTCUSDT breakdown the 19k support meanwhile.
coupled with the greatest accumulation in BTC history, we expect an upward move in BTCUSDT in the short term, potentially within 21k2, 22k5 range.
that does not change the downtrend on BTCUSDT, nor the uptrend on DXY, rather we see it as a short term relieve.
best regards.
