Bitcoin bottom is going to be predicted by the top of the DXY!
Im my last chart on BTC with the correlation with the DXY. You can clearly see when BTC dumps the DXY pumps. Even on the weekend when the DXY is not trading BTC does boring sideways action waiting for the DXY to open again. In my opinion we still have further upside with the DXY. We are currently trying to break through an ascending channel to the upside! We can clearly count from the yellow wave 4 another 5 wave move however we are missing the internal wave 5. Which in my opinion will get close to 120 level. Who knows maybe we get bad news tomorrow with the CPI data or with another big rate hike coming later. Let,
's see if we get above the channel and hold the trend line for support. This would be the confirmation we are probably going to 120.
's see if we get above the channel and hold the trend line for support. This would be the confirmation we are probably going to 120.
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