What an interesting year it's been for BTC. Lots of good news.
At point A), BTC is in Lockstep with DXY...Unusual. A "Divergence" of sorts. Indicating the asset it being absorbed.
At point B), BTC returns to it's "normal" , opposite type PA to the DXY (Dollar). Normal behavior.
The green Verticle, the fun begins. It's March, DXY is pumping, and so is BTC once again (yellow arrows).
....As soon as DXY begins it's decent...BTC takes off.
At point C), DXY finds it's bottom. And BTC bleeds off (as would be expected). Sept 25th DXY tops, and BTC is once again "Off to the races". Which is where we find ourselves today.
Watch DXY. Watch BTC's reaction to DXY. If you see DXY dumping, and BTC is dumping as well....It may indicate the "top". Something to always keep an eye on, whichever market you trade.
As always, good luck, have fun and practice solid risk management.
At point A), BTC is in Lockstep with DXY...Unusual. A "Divergence" of sorts. Indicating the asset it being absorbed.
At point B), BTC returns to it's "normal" , opposite type PA to the DXY (Dollar). Normal behavior.
The green Verticle, the fun begins. It's March, DXY is pumping, and so is BTC once again (yellow arrows).
....As soon as DXY begins it's decent...BTC takes off.
At point C), DXY finds it's bottom. And BTC bleeds off (as would be expected). Sept 25th DXY tops, and BTC is once again "Off to the races". Which is where we find ourselves today.
Watch DXY. Watch BTC's reaction to DXY. If you see DXY dumping, and BTC is dumping as well....It may indicate the "top". Something to always keep an eye on, whichever market you trade.
As always, good luck, have fun and practice solid risk management.