Whenever I am unsure about a market, I like to flip it upside down to see if my biases can be turned around. So here is a chart the chart of BTC flipped upside down! Instead of just flipping it upside down, I charted it as a ratio with the DXY as the top and BTCUSD as the bottom. Something else interesting popped up as well. Lets hop in:
This makes me more sure that we may be ready to have a pullback. For DXY/BTC, we are seeing BTC come up to some major resistance levels from June of 2019, while BTCUSD is not touching its resistance levels and failing before hand. The pressure of the DXY/BTC pair already hitting resistance without even giving the BTCUSD pair a chance to hit it in my eyes is a negative.
Happy Trading!
Brandon Anderson
www.derzzycharts.com
This makes me more sure that we may be ready to have a pullback. For DXY/BTC, we are seeing BTC come up to some major resistance levels from June of 2019, while BTCUSD is not touching its resistance levels and failing before hand. The pressure of the DXY/BTC pair already hitting resistance without even giving the BTCUSD pair a chance to hit it in my eyes is a negative.
Happy Trading!
Brandon Anderson
www.derzzycharts.com
