$DXY at Major Resistance
The USDXY is at two major resistance levels. An 80-day resistance and a 430-day resistance.
This is very important to understand a likely high timeframe trend for risk-on assets like cryptocurrencies because, as we all know, the
DXY is almost perfectly inversely correlated to Bitcoin and the cryptocurrency market.
Here are those resistance levels on a higher timeframe.
As you can see, these are legitimate trendlines, as price has respected them for a considerable amount of time.
On a smaller timeframe, theDXY is indeed overbought, and so I would expect a gap up at today's opening, followed by a significant move down.
This is very important to understand a likely high timeframe trend for risk-on assets like cryptocurrencies because, as we all know, the
DXY is almost perfectly inversely correlated to Bitcoin and the cryptocurrency market.Here are those resistance levels on a higher timeframe.
As you can see, these are legitimate trendlines, as price has respected them for a considerable amount of time.
On a smaller timeframe, the
DXY is indeed overbought, and so I would expect a gap up at today's opening, followed by a significant move down.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.