correlation between BTCUSD and USD index?
after scaling DXY by quite a bit there is noticeable correlation with BTCUSD - my other chart tries to "decrease" the DXY influence (which in such case may actually be pretty big, for whatever reason) from the BTCUSD chart.
What I'm trying to say in other words is that regardless the fact BTC value expressed in USD has it's own path in time which is pretty volatile and mainly going up for number of years, with the progressing adoption amd new players coming in it may become pretty sensitive to US Dollar strength recent months.
What I'm trying to say in other words is that regardless the fact BTC value expressed in USD has it's own path in time which is pretty volatile and mainly going up for number of years, with the progressing adoption amd new players coming in it may become pretty sensitive to US Dollar strength recent months.
Note
look how well the moves on USD index and BTCUSD were synchronizedNote
looks like we're approaching resistance on this chart which seems to correlate with touching the downtrendline for btcusd
Note
correct chart here:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.