DXY bearish December outlook
Diupdate
The DXY has recently had a good few weeks with a massive incline through November however the run has started to taper off with a Bearish Rounded top pattern being formed in early December and a strong resistance zone being met.
This implies further downfall for the DXY index throughout the winter months following through into q1 of 2022 which aligns for a bullish run up for crypto from late December - early Q1. While im not overly confident in a fully bearish DXY , i do believe a downfall of 1-2% is to be expected simply due to the pace this bullish period took over amidst a mass of inflation fud.
I will ensure to update this chart should any more inflationary news or dollar related news takes place however for now this is the general idea im going with as this supports my bullish view on crypto as a whole !
-Oz
This implies further downfall for the DXY index throughout the winter months following through into q1 of 2022 which aligns for a bullish run up for crypto from late December - early Q1. While im not overly confident in a fully bearish DXY , i do believe a downfall of 1-2% is to be expected simply due to the pace this bullish period took over amidst a mass of inflation fud.
I will ensure to update this chart should any more inflationary news or dollar related news takes place however for now this is the general idea im going with as this supports my bullish view on crypto as a whole !
-Oz
Catatan
Added argument to a further bullish DXY drive would be the Bull pennant that has now formed ... While i dont think this will play out , if it does it will have fairly large effects on crypto reducing our chances of q1 parabola . DXY index could head into the high 200's so that will be something we need to watch out for !
-Oz
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