US Dollar Index (DXY) - key support levels, (DXY, WTI Crude,10Y)
TO HELP US GAUGE BITCOIN & STOCK MARKET SENTIMENT, I'M PAYING CLOSE ATTENTION TO THESE 3 CHARTS. - (DXY, CRUDE OIL, AND 10Y YIELD)
DXY, (Dollar Index)
The Price Of WTI Crude Oil &
The 10 year Yield.
LOOKING FOR:
A Weaker DXY With Crude Oil Higher and a Stable 10 Year Yield would be BULLISH
For The Stock Markets continuation to the upside, and safer environment for Bitcoins continued upside.
OR
A Stronger DXY, Lower WTI Crude, and A Dropping 10 Year Yield Is Bearish For The Stock Market, and could also affect Bitcoins price short term with a move away from risk assets.
(Eventually I expect Bitcoin to break from this correlation, however it has not yet done so.)
((( DXY )))
A recent bearish US dollar, which has formed a descending wedge pattern,
is coming into historically critical areas of support.
Current year's lows of 89.2 - 89.7 are likely to be tested demand zones.
Paying attention for either a Bullish Breakout of this falling wedge pattern,
or Loss of Historical Support levels to help gauge the direction of broader Stock Market and Bitcoin.
Loss of support at these levels and further downside would be expected.
DXY, (Dollar Index)
The Price Of WTI Crude Oil &
The 10 year Yield.
LOOKING FOR:
A Weaker DXY With Crude Oil Higher and a Stable 10 Year Yield would be BULLISH
For The Stock Markets continuation to the upside, and safer environment for Bitcoins continued upside.
OR
A Stronger DXY, Lower WTI Crude, and A Dropping 10 Year Yield Is Bearish For The Stock Market, and could also affect Bitcoins price short term with a move away from risk assets.
(Eventually I expect Bitcoin to break from this correlation, however it has not yet done so.)
((( DXY )))
A recent bearish US dollar, which has formed a descending wedge pattern,
is coming into historically critical areas of support.
Current year's lows of 89.2 - 89.7 are likely to be tested demand zones.
Paying attention for either a Bullish Breakout of this falling wedge pattern,
or Loss of Historical Support levels to help gauge the direction of broader Stock Market and Bitcoin.
Loss of support at these levels and further downside would be expected.