Bitcoin & DXY $ PA since 2008 shows BTC PA in ATH Zone - Why ?
Really easy one this.
There is only ONE Bitcoin ATH that happened when DXY PA was NOT on or below the Lower trend line that DXY PA has been in since 2008
And that was on the way lower but turned higher after the BTC ATH.
When I begain with Bitcoin in 2013, I was told, There is a correlation between DXY and BTC...."They go in opposite directions"
On smaller, this can appear to be False but looking at this Monthly chart, it Very clearly shows it is true.
The Day counts above are the days from when DXY first touches the upper trend line to the last week that PA touches the Lower trend line before rising higher again.
You can see that, apart from the 2nd ATH in 2021, there are 2 ATH for Bitcoin in the 2nd half of this day count.
The Green Box shows us the potential Zone for the next 2 BTC ATH. We have already reached a New ATH this "Cycle" but we have NO idea if a Higher ATH is Due or not.....We have to wait and see but the expectation is currently that we will.
The Vertical orange Dotted lines are previous USA election dates and I can see no real connection to these and DXY PA. Some are high, others are Low....However, the Next election is just after t his Bitcoin ATH Zone and so we may see some influences.
Something I also find interesting is how Bitcoin PA is rising in a similar way to how the DXY $ has since its Drash in 2008
The Monthly BTC chart
DXY since 2008 Monthly
You can clearly see the controlled rise and fall of PA within a channel,
This cycles Weekly Bitcoin chart is the first time we have seen that type of PA in a weekly cycle.
This is Bitcoin since Jan 2023 Weekly
So, we may have opposing PA action but we also have a similar style within a channel
Things to take note of.
We may have reached the BTC ATH zone already and we may not go higher, though the potential does exist to move further and, my opinion, is we will.
But it would be incredibly Nieve to assume it will go higher with out having some precautions in place.
Everyone talks about UPtober.
We have had RED Octobers - October 2012 was red and in the Middle f a Bull run
So Caution while we surf the crest of this Wave...
Just something I thought I would share.
