A cascade of events has pushed the dollar to extreme levels/fear. I'm imagining a roller coaster that is approaching an inflection point in momentum where the velocity is just fast enough to push the roller coaster over the hump. What transpires afterward is shock/exhilaration.
TheQuestioningMind
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DXY is at 103.4 at this moment
jdo85
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target?
TheQuestioningMind
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I'm a contrarian and believe in David Hunter's thesis. If the dollar break 105, the stock market bull is over and so is the crypto bull. There is negative divergence forming on the DXY RSI which supports the DXY topping here, but who knows how long this can take to occur. Use historic pretext and David Hunter's projection of DXY going to 80, I would say that a 6x for BTC is possible. I could see RLC conservatively hitting $80 if BTC hits $240,000. Euphoria could certainly take it beyond there.
jdo85
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@TheQuestioningMind what are toughts this moment about the overal market especialy the DXY
TheQuestioningMind
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@jdo85, The DXY negative RSI divergence on a 4hr chart is ugly, but is looking more positive on a daily chart. I still think the probability of the DXY topping here is very high. Cryptocurrencies are doing very well considering the strength of DXY, which is another positive sign. The stock market is more bearish than in the covid crash. Its only a matter of time before the sentiment shifts in the bulls favor. Maybe inflation comes down, the fed hikes fewer times or interest rates fall? All will shift sentiment in a positive direction.