DXY - Shift in Momentum!

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DXY rejected the blue demand area, 89.5-90.0 and we can clearly see that the buyers are finally gaining strength.

DXY was overall bearish making lower lows and lower highs (in orange), found rejection around the blue demand, and then the buyers broke above the previous high which significate a potential shift in momentum from bearish to bullish . (as shown by the purple projection - semi-circle)

So the buyers took control, and the bullish trend started after DXY made a higher high and a higher low (in green).

As per my trading style/plan, Since DXY is overall bullish , we are expecting another higher low and higher high. So we will be looking for buy setups on lower timeframes on the retest now to catch the next impulse.

The bulls are in control unless of course, the bears manage to break below the previous low and blue zone again.

Good luck!

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This analysis is done using RichTL indicator

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F... BTC down then :(
+3 Reply
TheSignalyst PedroRolles
@PedroRolles, I am not used to the pessimistic Pedro. the Pedro I know is an optimistic beast.

I don't think that they are that correlated. They are, but not highly. Let's focus on one instrument as a whole.
PedroRolles TheSignalyst
;) yup but ... if market participants flocking to cash then we all know what it is. BTC.D and USDT.D also showing signs. But let's see , i need BTC to go to more discount coz ready with bullets but my Alts are Kaput ! Next cycle may be they will recover to bring losses back. Now focus on BTC a lot! Hope it works out well.
+1 Reply
TheSignalyst PedroRolles
@PedroRolles, makes total sense Pedro.

Watch my last bitcoin video, maybe this will cheer you up. here we go :D

have a wonderful weekend gentleman.
MaggieLuzp TheSignalyst
Great education
+1 Reply
@MaggieLuzp thank you Maggie 😁
possible scenario Richie, nice work as always :)
+2 Reply
TheSignalyst FX_Professor
@FX_Professor, thank you Kyriaco :D
Excellent breakdown, thanks for the heads-up. πŸ™Œ
+1 Reply
@financialflagship Alex πŸ˜πŸ™Œ