The US Dollar Index TVC:DXY is negatively correlated with the macro Bitcoin BNC:BLX chart.
Indicators like the Correlation Coefficient indicator will display swings from negative to positive correlation between TVC:DXY and $INDEX:BTCUSD. This can lead to a belief that they are not in fact negatively correlated.
But, when you zoom out to a macro view of...
Within the four panels above are comparisons of major US market and the international Bitcoin indices with the US Dollar Index, $TVC:DXY. From top left to right:
TVC:DJI
SP:SPX
NASDAQ:NDX
BNC:BLX
As we can plainly see, each one acts a a near mirror image going back to 2017.
When looking at correlation via an indicator, like...
I've posted about this for a while now, DXY is presently negatively corresponded with multiple markets: Gold, Bitcoin, Dow Jones, etc.
Should that negative correspondence continue and DXY makes a move back above 105, confirming a failed Head & Shoulders and then heads to 112 -> 118+:
- Gold may confirm a bearish triple top and lose nearly half its value.
If...
If you've seen my other posts about this - Bitcoin has clear negative correlation with DXY.
You could pull up the Correlation Coefficient indicator and make an argument that it correlates positively just as often as it does negatively, but when you compare the charts with each other, nearly every peak corresponds with a valley vs. the other and vice versa. ...
What if we're just repeating a fractal of Bitcoin's summer 2021-22 market behavior?
This would make a lot of sense if negative correlation with DXY continues and the dollar index moves back up to its recent highs or higher:
Would also expect this to occur if Gold moves down from here:
If it did do this, it would also continue remaining within this...
Another update on the US Dollar index and its negative correlation with major markets. DXY has moved back into an area of indecision with regards to recoveries occurring across markets:
Bitcoin, Gold, Dow Jones Industrial, Nasdaq are all negatively correlated with the Dollar Index, with few exceptions, over the last year or more.
Many of these are also at...
Bitcoin and Ethereum both have nearly identical structures to fractals of their Summer 2021-2022 movements:
Everything is negatively correlated with DXY. This could occur if DXY makes a strong move back above its local highs:
jira.gearboxsoftware.com
There is also a bull case to be made, also using a fractal of a previous cycle:
Gold and the Dollar Index have been mirror images of each other over the last year and a half or so. Near perfect negative correlation, with no signs of divergence from this.
I'm expecting this will remain true for some time, creating an educated assumption that we can expect a near equal and opposite reaction from each other, and both are at major decision...
Here's a longer-term look at Bitcoin's negative correlation with the US Dollar Index, in looking at an overlay of the monthly DXY on top of Bitcoin.
CC also displays significant negative correlation, and during the brief periods where it has been positively correlated, that correlation has been insignificant. At least this has been true over the last two major...
It is already pretty obvious to any analyst - a stronger dollar means a weaker crypto or stock market, and a weaker dollar trends toward stronger crypto and stock markets.
As you can see on the chart, Bitcoin (BLX) has a crystal clear negative correlation with the US Dollar Index (DXY), as expected. So, why am I talking about it?
Each time DXY has peaked, BLX...
Yesterday just before FOMC notes came out I was watching an ascending triangle pattern in DXY form, test and hit profit target.
I noticed that the S&P 500 was moving in perfect negative correlation to DXY during FOMC.
So I decided to measure the correlation between the two and found significant negative correlation on the daily.
The weekly chart shows...
Algo spike 4% to $101.8?
At 18:19 BST Apple stock surged from 99. to $101.8 and back again all within a minute.
It was Likely to be algo driven OR a data/exchange error - though no news outlets reported either or offered any other speculation.
Though $101.8 is the closest near by resistance strong hold for apple, so it would be a weird coincidence for a "data...
