Bitcoin rally coming to a stop
Updated
When ever the US dollar index or DXY has gone down, Bitcoin or BTC has rallied. However there is always a strong support for DXY, in the recent years it is around the 87-88 range. As DXY now approaches this level, it will once again bounce up and be bullish, in which BTC will consolidate or go down. I am neutral on BTC for the next month or so.
Trade closed: target reached
BTC fell down to $28,990 after this post. Almost 15%! Keep this analysis in mind in the future when trading cryptocurrency.
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