DXY and Crypto affect
Updated
I expect a retracement on the DXY , thus I expect crypto to have a small relief .
When DXY goes up it means that there is a sell off in assets , stocks and crypto as people cash out . Vice Versa.
If DXY keeps increasing we might see more sell off in the next couple of days , but in my opinion I see that DXY will have a small retracement as mentioned before .
DXY has still some strong resistances to break through . The last ATH was in 1985 around 165.
When DXY goes up it means that there is a sell off in assets , stocks and crypto as people cash out . Vice Versa.
If DXY keeps increasing we might see more sell off in the next couple of days , but in my opinion I see that DXY will have a small retracement as mentioned before .
DXY has still some strong resistances to break through . The last ATH was in 1985 around 165.
Comment
I cant say I am overly bullish when I see the DXY keeps pumping and crypto with the stock market keep dumping .If the stock market keeps dumping at this rate we could be entering a bear market which means that indexes such as SP500 , NASDAQ and DOW will fall more than 20 % .
I will update accordingly the next couple of days on how things develop .
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