Description
⋅ DXY V/s Bitcoin Correlation :-
TF:- 2W
✨DXY is currently at $103 Level.
✨Multiple Price Rejections are seen from Support & Resistance zones.
✨RSI bearish Divergence is also seen, While RSI is in OverBought levels.
✨Bearishness is expected in DXY by looking at Current Price Action.
✨We need to wait till the confirmation of Price Rejection from the Resistance zone .
✨ If the Price reject then it can go to the levels of $95 , $93 or $90
✨ For Bullishness in DXY = Price needs to give a Breakout of $103 level with Strong Bullish Green Candle and should give closing above it.
✨If DXY gives a Breakout, Then the Price can go up to levels of $115 - $120 or higher.
Conclusion =
= If DXY Breakout Above $103 Mean Bitcoin Super Bearish and Target would be $25000-$30000 Again.
= If Rejection as per the chart then we can see Bullish Mode Continues And Target would be $52800/100k
Folmula = Y = 1/X
Where Y = DXY
and X = Bitcoin
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