BITCOIN - DXY CORRELACTION
Updated
We are facing BITCOIN showing some sideway moviment and maybe a little upward until 17500USD. Because of FTX's events, BITCOIN did't go UP while DXY goes down. In the next days we will be able to see DXY rise some points until 110 and BITCOIN fall 25% in the same proportions that historically it have moved. Additionally, we still have the developments of FTX that could reach another brokers and cause a cascate negative events. For me, it's dangerous stay exposed.
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Nothing changes here my friends. The price shows more sideway moviment than expected because of the slow evolution in DXY but the scenario is the same: the developments around FTX collapse is running in background, problably with other brokers being affected in next weeks. We are seeing the price reach more lows and did'n go back to the last high values. Besides that, it's a pattern in the markets where we need to see some accelaration (with candles more biggers) before a reversion and we didn't see it until now in BITCOIN.
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