DXY broke the falling wedge and going for the test to the Supply zone . If we reject there , then that might be the Top for BTC and H&S will be formed . Lets see .
Nothing much to explain about it , it just broke a triangle on weekly time frame and retested it too . I think we can have a rally to the downside from here . I am already short .
Blue line right here is a strong support which acted as a major support back in 2012 when BTC was $5 , and now we are consolidating right above this support , There are always 2 chances in such patterns , we can either breakout or breakdown . But I think we head down to the next support as things arent going well with the dollar , stock markets and the world too...
Dollar is moving in an downward parallel channel , so If it breaks above it , then I am expecting a rally to 109 or possibly 112 , which means more downside for btc and stocks . Lets see how it plays .