DXY setting up for huge bounce to coincide with crypto crash pt2

12 nov 2022

Interesting chart here on the DXY daily we can see the sharp pull back to strong support line so that’s one more clue that things are about to get uglier in the crypto space.

This past week‘s events have cast the block shadow on the entire industry and likely will put increased pressure on institutions and big investors to further limit exposure.

In the life cycle of investor emotions, were seeing capitulation but I haven’t quite seen the final stage of despondency that ear marks the true bottom. So I think we have further to drop, likely to $14,000, or $12,500 which would be the 100 month moving average.

There is also still the unfilled CME gap between 9750 and 9780 so a $10,000 bitcoin could still be in the cards for this is all over.