🔥 DXY Strongest Decline Since 2020: Market Bottom Is In?
Around two months ago I made an analysis on the DXY (dollar index) and the fact that it was trading on a massive 14-year resistance. I argued that a top was possible, but still too early to tell.
After looking at the chart, I think we can definitely argue that a potential top for the dollar is in. Consequently, this would be bullish for both the crypto and stock markets.
Not sure if we're going to the bottom support area directly, I see it more plausible that the DXY will trade sideways for a couple of weeks/months.
Be aware that a falling DXY is bullish for crypto, but that doesn't mean it will go up. The market is still licking its wounds from the FTX fiasco, and more insolvencies are on the horizon. Be wary.
After looking at the chart, I think we can definitely argue that a potential top for the dollar is in. Consequently, this would be bullish for both the crypto and stock markets.
Not sure if we're going to the bottom support area directly, I see it more plausible that the DXY will trade sideways for a couple of weeks/months.
Be aware that a falling DXY is bullish for crypto, but that doesn't mean it will go up. The market is still licking its wounds from the FTX fiasco, and more insolvencies are on the horizon. Be wary.
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