DXY Bullish: First Time Since December 2023 (vs Bitcoin)
My dear supporter, it is not only Bitcoin that will enter a major correction, the SPX, DJI, NDX and all major stocks are also sitting on very strong bearish charts. The whole financial economy is about to crash... With that said, we look at each chart individually.
We are now considering the DXY, the U.S. Dollar Index.
We know that this index moves in an inverse faction compared to Bitcoin and the stock market.
This index last turned bullish in December 2023. After peaking in April 2024, it is going bullish again now and it has been producing a bottom formation for an entire month. This is a long time to produce a bottom which means that this is a strong bottom.
We know Bitcoin is bearish and moving lower.
We know of the lower highs, trading below MA200, the strong bearish volume and all the other dynamics; This signal is a major signal and the last confirmation.
We are now seeing the DXY go bullish and this in turn works as a bearish signal for Bitcoin.
The DXY can be read in many other ways but we are looking at its relation with Bitcoin because we focus first on the Cryptocurrency market.
The DXY is set to move up and will produce its biggest bullish wave since December 2023.
See the 'Related publications' for some of the charts that I see bearish, such as: SPX, NDX, DJI, NVDA & Bitcoin.
Thank you for reading.
Namaste.
We are now considering the DXY, the U.S. Dollar Index.
We know that this index moves in an inverse faction compared to Bitcoin and the stock market.
This index last turned bullish in December 2023. After peaking in April 2024, it is going bullish again now and it has been producing a bottom formation for an entire month. This is a long time to produce a bottom which means that this is a strong bottom.
We know Bitcoin is bearish and moving lower.
We know of the lower highs, trading below MA200, the strong bearish volume and all the other dynamics; This signal is a major signal and the last confirmation.
We are now seeing the DXY go bullish and this in turn works as a bearish signal for Bitcoin.
The DXY can be read in many other ways but we are looking at its relation with Bitcoin because we focus first on the Cryptocurrency market.
The DXY is set to move up and will produce its biggest bullish wave since December 2023.
See the 'Related publications' for some of the charts that I see bearish, such as: SPX, NDX, DJI, NVDA & Bitcoin.
Thank you for reading.
Namaste.
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lamatrades.com (Since 2017)
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