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SlowAndSteadyTrading
Sep 10, 2020 8:50 AM

$DYX (american dollar) LOOKING FOR A BOUNCE ~ higher time frame  Long

U.S. Dollar Currency IndexTVC

Description

Reason I'm making a technical analysis on this chart:

#1: If this turns into support, BTC will crash as DXY goes upwards in price. (opposite correlation)

#2: I'm currently short BTC, so looking for a bounce with DXY.
Comments
tetonper55
You would be far better off to be short gold or silver now if that is you hypothesis. And it may be safe short term. However the race to the bottom of currency devaluation is on. Why because all the major producers have huge debts to pay off. Pay off huge debts with cheap inflated money then move to reabsorb dollars and build currency strength. Even Trump who wanted a strong $ for years now wants a weak $ because he is a far better economist then many of the trained ones! C-19 has ruined the world economy for the next 5 or maybe 10 years or so. Gold and silver will ride the $. In the future probably more gold then silver as silver is getting more and more to be an industrial player then money! GL But I am long pm.
GJMRealEstate
good idea

it seems to me the correlation between DXY/BTC is about 50/50

the last move (on the shorter time frames) was opposite

this next move may be in sync with DXY

Yurlo
SlowAndSteadyTrading
@Yurlo, SEXY
Yurlo
Interesting ~ thanks for sharing my friends.
SlowAndSteadyTrading
@Yurlo, Cheers ~
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