forming a cup and handle which is a reversal pattern.
Note that the handle range is subjective and can form as low as 4200 $
once the cup and handle breaks above the target is equal to the cup hight which sets it around 7900$ level
a clear negatove correlation between the dollar index dxy and BTC. DXY dipped last year..a new bull run to 100 and above would lead to longer bear market for BTC and lower price levels to 3k..if this move is just a dead cat bounce for DXY then a new bull run for BTC is on the horizon !
a historic comparison between btc 1.86% cycles vs DXY 0.20% indicator
as with gold -0.85% .. when it comes to a strong USD nothing can beat it . if dxy 0.20% stops her and start declining then we should start a new bull run otherwise if dyx keeps rising with Fed increasing interest rates till 2020 then this would be a long bear market for BTC 1.86% and GOLD -0.85%
As LTC did in back 2014.. ETH is breaking its histroic trend line support that goes back to 2015 !
a possible dip between 20$ (Yes TWENTY $)- 100$ is very likely while BTC cointinues to regain its market dominance of 90%