DXY - Is this the top?

May 1, 2022

Since Dec 2016, every time the US dollar has reached a price of $103 we have seen HUGE moves to the downside. Will history repeat itself? Currently we have reached a high of $103.92 which has not been seen since Dec 2002!!! A selloff is starting to begin as a new month has begun. If we take a look at our monthly RSI, a slight bearish divergence is being created. Slightly higher high in price and a lower low on our RSI. We are also exactly at overbought on the monthly RSI which would be a perfect time for another large selloff over the next months. On the bright side, when the DXY crashes, people usually get out of the dollar and into riskier assets such as BTC, gold, ect. If we get this selloff it could be very bullish for the crypto markets!!!