DXY Sell Breakdown Analysis (Daily Timeframe)

4 Feb

DXY Sell Breakdown Analysis (Daily Timeframe)
📉 Key Breakdown Details:

The U.S. Dollar Index (DXY) is breaking down from a rising trendline, signaling bearish momentum.
The breakdown confirmation comes after rejection near 110.176 - 110.141 resistance zone (historical high).
This breakdown suggests a potential trend reversal or deep correction in the dollar.
📌 Trade Setup & Key Levels:
🔹 Entry:

Sell below 108.50 after a confirmed break & retest of the trendline.
Ideal entry is after a bearish candle close below support or a pullback to the breakdown zone.
🎯 Targets:

Target 1: 106.50 (recent swing low).
Target 2: 103.50 - 104.00 (strong demand zone).
Target 3: 100.15 (major psychological & technical support).
🛑 Stop-Loss:

Above 109.50, to avoid false breakouts.
📊 Correlation with BTC/USD:

A weaker DXY often leads to a bullish Bitcoin move.
If this breakdown plays out, BTC could see upside movement toward 100K+.
✅ Additional Confirmation:

Watch for a retest of 109 - 109.50 before further downside.
Look for bearish divergence on RSI or MACD crossover for added confluence.

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