Looking for a BIG break either way. Potential retest before DXY falls through the floor forever. Short term = Crypto pullback, DXY pop, then the real blow off top in EVERYTHING will occur. Will be a great few years and come tumbling down in 2023-24. Just my opinion...
We have a soon to be contested election, Covid, China, Social unrest & division, Money printing by the FED, Antagonistic media, we can keep going... then there is this price action backed by the fundamentals of BTC. This is going to go parabolic.
10 year is forming a large wedge, with the APEX on election day. This should be an interesting move either way! My best guess, initial drop in the markets, money flows in to safe havens spiking the 10 year, then markets reverse, money flows out of bonds, sending this back to the floor. Free money FOREVER!
I expect something like this up until the election. Then, Trump win and we go sideways or down a little. Biden win, this goes to the moon... then Pluto... right out of the Milky Way. Either way bullish long term.
I expect this to break towards the downside before touching the previous all time highs. DXY will regain some strength when money flows out of risk assets. RSI coiling up with less strength. This is a FED driven rally ONLY... Covid (BS) will return in the near future with an attempt to lock everyone up before the election. This is a game, play along :)