My view of the DXY.
The white trend line from 1985 was denied in 2002 and was broken in 2015.
In 2018 along with 2021 it retested and formed a double bottom, resulting in a W pattern.
The 1.618 extension fibbonacci touched at 115. The point where we are now, which is 112, is tested back from July 2002.
Looking back at the chart, a correction (-20%) like in 2005 and in 2017 does not seem crazy. This combined with the bitcoin halving in May 2024.
What do you guys think?
DXY down = BTC up
The white trend line from 1985 was denied in 2002 and was broken in 2015.
In 2018 along with 2021 it retested and formed a double bottom, resulting in a W pattern.
The 1.618 extension fibbonacci touched at 115. The point where we are now, which is 112, is tested back from July 2002.
Looking back at the chart, a correction (-20%) like in 2005 and in 2017 does not seem crazy. This combined with the bitcoin halving in May 2024.
What do you guys think?
DXY down = BTC up