DXY Shows Bearish Divergence and Breakdown – Bullish Implications for Bitcoin, Gold, and Forex
The U.S. Dollar Index (
DXY) has formed a clear bearish divergence on the weekly timeframe, indicating potential downside momentum. Additionally, it has lost key trendline support, further confirming weakness in the dollar.Key Support Levels for #DXY
Next Major Support: 102 - 100 zone
If the 110 support level is breached, DXY could experience a sharp plunge, accelerating further downside.
Bullish Impact on Bitcoin, Altcoins, Gold, and Forex
Since the DXY moves inversely to risk assets and other currencies, its bearish outlook could support:
✅ #Bitcoin & #Altcoins: Potential for upward momentum
✅ #Gold: Increased demand as a hedge against a weaker dollar
✅ #Forex Markets: Currencies like EUR, GBP, and others could gain strength against the USD
The current bearish divergence and breakdown of trendline support in DXY suggest continued dollar weakness. If key support levels fail, we could see strong rallies in Bitcoin, altcoins, gold, and major forex pairs in the coming weeks.
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🌹TRADING is a CASINO💔!? NO‼️ You❗️CAN and ❗️SHOULD make money in trading! Join me, I'll guide you to PROFITABLE TRADING💵! 🟢Free Telegram Channel: : telegram.me/crypto_vulture_signals
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.