What TechDev and other crypto influencers fail to mention is that the three previous "blow-off" tops on Bitcoin were backed by a lower US dollar. The US greenback is rising in anticipation of higher interest rates in what could be a possible primary wave 5 as illustrated. It did the same in 2014 with a primary wave 3 before the Fed began its hawkish monetary policy of hiking the Fed funds rate. If DXY rallies from 97 to 115, there is no way Bitcoin is going up during that move, in fact it might fall from 56K to 30-40K easy. Althought DXY seems like it has started taking off, there is a small chance it might fall if COVID-19 becomes an issue again which might require for the monetary policy to remain accomodative.
DXY is going to 98 easily btc on hold, running flat perhaps. The funny thing is dxy has literally done the opposite of what you are pointing at and you cant even see it lol
Thanks ! But what I dont understand is why the DXy is going up right now, what is the reason ? Also the DXY has a strong resistance around 97/98. So i hope its goijng down after that and BTC can go up. im still quite new to this so be kind pls ahah
matondo01
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@enoughisenof it’s called price manipulation; soon it’s will reverse