Dollar Currency Index DXY Predicts Massive Crypto Bull Run

1 בדצמ׳

Hello, Skyrexians!

In crypto trading and investment it's vital to not only analyze some particular assets, but also macro charts. We have already considered the Bitcoin Dominance chart to predict potential altseason in this article. Today we have even more important asset, the DXY , which reflects in which type of assets investors are about to be in. When crisis happens investors are scared, selling risky assets and buy dollar. In the worthy times investor are greedy to risky assets and dollar currency index decreases. Today we will try to explain why DXY is about to crush giving liquidity to risky assets like our favorite crypto.

Let's take a look at the monthly time frame. It looks like DXY has ended the super cycle of any degree and now is printing correction. Waves A and B are likely to be finished already in this correction. The most impulsive wave C is incoming soon. To measure the targets we can use the Fibonacci retracement for the entire Elliott Waves cycle. Area between 0.5 and 0.61 is going to be our target. That's why we are waiting DXY between 88 and 93.

Inside this area we plan to wait for the green dot on Bullish/Bearish Reversal Bar Indicator [Skyrexio] which works great in the past. Important note here is that you have to disable MFI filter on this indicator to work correctly on DXY. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView.

Best regards,
Skyrexio Team

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