DXY Weekly In Relation To Bitcoin: MA200 & Price Dynamics
Updated
Hello my cherished reader, it is my pleasure to write and be of service to you again today.
We are going to be looking at the DXY long-term, weekly timeframe. We will consider how the action is happening in relation to MA200 and then reach some conclusions in relation to Bitcoin, are you ready? Good!
In June 2018 the DXY moves above MA200, the black line on the chart. It grows above MA200 but challenges this level continually as support. Eventually, after trying many times, MA200 fails as support in July 2020 and this produces the lowest levels in years. The DXY turned bearish for a long-term when it lost this major support line.
(#1) In November 2021 the DXY moves above MA200 (the same date when Bitcoin peaked). This break above MA200 opened the doors for massive bullish growth. There was a retest of this level in January 2022 and then the DXY entered full bullish mode.
(#2) Above MA200, the DXY reached a new All-Time High. This All-Time High was hit in September 2022, close to when Bitcoin hit its bear-market bottom.
After hitting a new ATH the DXY went bearish; the start of a corrective phase.
And we would wonder, how low will it go?
(#3) The DXY finds support exactly at the MA200 line and turns bullish. It produced one full green candle and then closed green again.
➖ The DXY in relation to Bitcoin: Comparing Price Action
After the DXY hit a new All-Time High, it was trading high up, MA200 was the main level that needed to be tested for the correction to find support. This same scenario can be considered for Bitcoin.
Bitcoin moved above MA200 weekly in October 2023 and turned hyper-bullish. After reaching a new All-Time High a new corrective phase developed and is now underway. Coming from this new high, Bitcoin is set to test MA200 as support, just as the DXY did.
(Bitcoin's weekly MA200 line now reads $39,960, but prices can go lower.)
When the DXY goes bullish, Bitcoin turns bearish.
When Bitcoin turns bearish, the DXY goes bullish.
The short-term charts, hourly and daily, can be misleading, they can easily confuse. Focus on the long-term and you can easily find the truth.
The DXY is bullish after years of going down, it is preparing to go up.
Bitcoin is about to end a major correction, coming from a new All-Time High, it is set to test MA200 as support. This can be seen on the weekly chart.
There you have it, the DXY in relation to Bitcoin.
Thanks a lot for your continued support.
Namaste.
We are going to be looking at the DXY long-term, weekly timeframe. We will consider how the action is happening in relation to MA200 and then reach some conclusions in relation to Bitcoin, are you ready? Good!
In June 2018 the DXY moves above MA200, the black line on the chart. It grows above MA200 but challenges this level continually as support. Eventually, after trying many times, MA200 fails as support in July 2020 and this produces the lowest levels in years. The DXY turned bearish for a long-term when it lost this major support line.
(#1) In November 2021 the DXY moves above MA200 (the same date when Bitcoin peaked). This break above MA200 opened the doors for massive bullish growth. There was a retest of this level in January 2022 and then the DXY entered full bullish mode.
(#2) Above MA200, the DXY reached a new All-Time High. This All-Time High was hit in September 2022, close to when Bitcoin hit its bear-market bottom.
After hitting a new ATH the DXY went bearish; the start of a corrective phase.
And we would wonder, how low will it go?
(#3) The DXY finds support exactly at the MA200 line and turns bullish. It produced one full green candle and then closed green again.
➖ The DXY in relation to Bitcoin: Comparing Price Action
After the DXY hit a new All-Time High, it was trading high up, MA200 was the main level that needed to be tested for the correction to find support. This same scenario can be considered for Bitcoin.
Bitcoin moved above MA200 weekly in October 2023 and turned hyper-bullish. After reaching a new All-Time High a new corrective phase developed and is now underway. Coming from this new high, Bitcoin is set to test MA200 as support, just as the DXY did.
(Bitcoin's weekly MA200 line now reads $39,960, but prices can go lower.)
When the DXY goes bullish, Bitcoin turns bearish.
When Bitcoin turns bearish, the DXY goes bullish.
The short-term charts, hourly and daily, can be misleading, they can easily confuse. Focus on the long-term and you can easily find the truth.
The DXY is bullish after years of going down, it is preparing to go up.
Bitcoin is about to end a major correction, coming from a new All-Time High, it is set to test MA200 as support. This can be seen on the weekly chart.
There you have it, the DXY in relation to Bitcoin.
Thanks a lot for your continued support.
Namaste.
Trade active
As the DXY grows and goes super bullish, Bitcoin peaks and starts a new bearish wave.
So the inverse relation is confirmed.
The DXY is to grow really, really strong.
Does this mean that Bitcoin is set to crash really, really strong?
That's what I believe.
Not only Bitcoin, but the stock market will also crash.
Namaste.
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