Update on DXY
Updated
* As expected, DXY has trended up in the short-term.
* However, it will be meeting heavy resistance by ¬11 Oct'21.
* BTCUSDT has an inverse relationship with DXY.
* Thus if DXY trends downwards, that might signal the end of the mid-cycle consolidation for BTCUSDT.
* However, it will be meeting heavy resistance by ¬11 Oct'21.
* BTCUSDT has an inverse relationship with DXY.
* Thus if DXY trends downwards, that might signal the end of the mid-cycle consolidation for BTCUSDT.
Note
* It is earlier than what I expected, but DXY indeed bounced off the resistance level we drew.* Let's see if we can break throgh the resistance levels at 92.450 and 89.212.
Note
To those with kids, do not disparage your kids when you see them "just drawing lines". These imaginary lines on the chart have brought me much profits!Note
* It's still wait-and-see time. And what better to do than to upskill oneself? * Here are two articles that reveal how much we do not understand about macroeconomics.
nytimes.com/2021/10/01/upshot/inflation-economy-analysis.html
federalreserve.gov/econres/feds/files/2021062pap.pdf
* Keep an open mind. Be flexible. Form hypotheses, then test them brutally and relentlessly. Pride is for losers. Winners go home and f*ck the prom queen.
quickmeme.com/img/10/10aa903e407347be3415b59227b9eb7ff2e7316c3b455719500fe64c39376248.jpg
Note
* Not enough people are looking at this chart.* As expected, DXY is trending downwards this week (debt ceiling, approval of 2HFY21 budget plans).
* This will provide much strength to BTCUSDT.
* However, there is great resistance at the previous BTCUSDT ATH, and it will probably be range bound for some time.
* This will be good for alts.
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