Since 1985 there has only been three times where the dollar has been this overbought on the monthly.
The first top was in 1985 and after it hit this area it moved down pretty quickly and the dow jones had a massive move up.
Second top was March 2015 and the dow jones dropped 16% but was then followed by a rally .
March 2015 was also a Bitcoin cycle bottom.
Here above you can see how Bitcoin ,the dollar and the Dow jones all created W patterns at this same time and shortly after tho the dollar reversed and then we get that parabolic move on risk assets.
The dollar hitting this level increases the chance of a rally in risk on assets tremendously.
The first top was in 1985 and after it hit this area it moved down pretty quickly and the dow jones had a massive move up.
Second top was March 2015 and the dow jones dropped 16% but was then followed by a rally .
March 2015 was also a Bitcoin cycle bottom.
Here above you can see how Bitcoin ,the dollar and the Dow jones all created W patterns at this same time and shortly after tho the dollar reversed and then we get that parabolic move on risk assets.
The dollar hitting this level increases the chance of a rally in risk on assets tremendously.
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