can USD condition heavily influence btcusd price?
this is some extreme chart - BTCUSD divided by DXY^20 - power of 20 - the wild guess number - kind of arbitrary while trying to remove some of BTCUSD / DXY correlation noticeable since the beginning of the 2018. I believe it makes some sense as the result chart looks less volatile then the BTCUSD itself.
Also some lines drawn shows possible direction of BTC to become stronger against the USD (DXY actually) - up to the red ellipsis - so depending how the USD itself will perform we may expect BTCUSD to not fall very strong - especially if we assume we see a big bullish flag since the end of the year - we should actually see some decent up move - how big - it may depend on the USD condition, well DXY actually and power of 20 ;)
Also some lines drawn shows possible direction of BTC to become stronger against the USD (DXY actually) - up to the red ellipsis - so depending how the USD itself will perform we may expect BTCUSD to not fall very strong - especially if we assume we see a big bullish flag since the end of the year - we should actually see some decent up move - how big - it may depend on the USD condition, well DXY actually and power of 20 ;)
Comment:
Looks like btc is not waiting to dxy and is aiming toward the upper boundary of downtrend channel (or maybe bullish flag?)