BitcoinLong
DXY vs BTC
As we know bitcoin prefers weak dxy in a downtrend.
But as we can see (orange rectangles) we had periods where dxy was going up with btc. Nevertheless strong upward movements on crypto were analogic to downtrend on dxy .
So far DXY looks very strong and bitcoiin struggles.
From earlier periods when dollar was in accumulation phase we had 5-wave movements, with 3 big waves down. Actually we miss that third wave down.
So there is still a chance that dxy won't break orange trend line on higher time frames and will collapse. That wuold indicate long term wave up on crypto.
But as we can see (orange rectangles) we had periods where dxy was going up with btc. Nevertheless strong upward movements on crypto were analogic to downtrend on dxy .
So far DXY looks very strong and bitcoiin struggles.
From earlier periods when dollar was in accumulation phase we had 5-wave movements, with 3 big waves down. Actually we miss that third wave down.
So there is still a chance that dxy won't break orange trend line on higher time frames and will collapse. That wuold indicate long term wave up on crypto.
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