DXY Technical Analysis Chart ( inverse proportion To Bitcoin )

17 Apr 2022

DXY - Long term Technical Analysis:-

TimeFrame:- 1 Week

✨DXY is currently at $100.5 Level.

✨DXY is Moving in a Bigger Support & Resistance Zone.

✨Multiple Price Rejections are seen from Support & Resistance zones.

✨Price is in Crucial Resistance level of
$100.5 - $103 level .

✨RSI bearish Divergence is also seen, While RSI is in OverBought levels.

✨Bearishness is expected in DXY by looking at Current Price Action.

✨We need to wait till the confirmation of Price Rejection from the Resistance zone.

✨ If the Price reject then it can go to the levels of $95 , $93 or $90

✨ For Bullishness in DXY = Price needs to give a Breakout of $103 level with Strong Bullish Green Candle and should give closing above it.

✨If DXY gives a Breakout, Then the Price can go up to levels of $115 - $120 or higher.


Conclusion =
1)- If DXY Breakout Above $103 Mean Bitcoin Super Bearish and Target would be $34000 Again.
2)- If Rejection as per the chart then we can see Bullish Mode Continues And Target would be $52800.

Folmula = Y = 1/X
Where Y = DXY
and X = Bitcoin

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