KidCrypto514

BTC compared to dollar index DXY

Long
TVC:DXY   U.S. Dollar Index
Looking at the DXY. 5 waves finish off wave B making a short term double top. DXY in this time will retest 104 DXY index Causing BTC to retest $24,000 area. The biggest issue i'm having is if DXY rebonds from 104 and goes past it current high, BTC could possibly go for a retest of $13,000. NOW, if the DXY stays under its current high on the retest, Then BTC has a likely chance of re testing into $40,000 range and making BTC move into forming wave 3 of 5. Now if BTC goes and retests lows of $13,000. Some to most cryptos are near Zero price rang already. Would BTC going to lower low cause a depression like event? Looking at how the US government is pushing for more regulations this could be a prefect time to gain control of a market. But what the US will have trouble with is having the whole globe on the same page. Theres so much negative news that we might be at a peak of bear market and need a retest of some old highs from 2021. Let see DXY and BTC next moves. Q4 might be the deciding fact for what happens in 2023

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