US Dollar - Should fall soon - Good for BTC and stocks
US Dollar index (DXY) shows the USD is close to the end of a bearish wedge (green lines). This is similar to the last bearish wedge (blue lines). USD should fall soon, possible with further news of infrastructure bill, debt ceiling solved, etc.
When USD falls, everything priced in USD goes up, including BTC, stocks, and commodities like gold and silver. Should be a strong Q4 for everything. Analyst Tom Lee from Fundstrat calls it "the everything rally".
When USD falls, everything priced in USD goes up, including BTC, stocks, and commodities like gold and silver. Should be a strong Q4 for everything. Analyst Tom Lee from Fundstrat calls it "the everything rally".
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