Next Stage of Bull Market
Updated
USDT.D is testing the 20 W SMA which has been a key level for Bull Markets.
The zone and MA has acted as Support 4 times previously in 2024 which have correlated with BTC Local Tops
A close under that SMA is indicating that we are entering the next stage of the Bull Market. I prefer a few Daily Closes under, Weekly Close under is Gold Dust and tells me the Next Stage has begun.
Read this to understand the Context of that SMA:
Main reason I'm more Bullish this time compared to that precious Idea is because of DXY.
Confluence:
My expectation is that the 200 EMA acts as Resistance for DXY and it rejects to continue its downtrend. This would be Bullish for Risk Assets like BTC/Crypto and would correlated with USDT.D breaking below the 20 SMA.
The zone and MA has acted as Support 4 times previously in 2024 which have correlated with BTC Local Tops
A close under that SMA is indicating that we are entering the next stage of the Bull Market. I prefer a few Daily Closes under, Weekly Close under is Gold Dust and tells me the Next Stage has begun.
Read this to understand the Context of that SMA:
Main reason I'm more Bullish this time compared to that precious Idea is because of DXY.
Confluence:
- BTC has shown Strength since Oct 10th despite the continued Upward Trend in DXY that started on Sept 30th.
- 1 Day RSI on DXY is close to 70(Currently 69) which is a general sign that it is close to Topping.
- DXY is also testing the 200 EMA since it broken down below in July.
My expectation is that the 200 EMA acts as Resistance for DXY and it rejects to continue its downtrend. This would be Bullish for Risk Assets like BTC/Crypto and would correlated with USDT.D breaking below the 20 SMA.
Note
Something I forgot to add is we are also testing the 50 W SMA as well as the 20 W SMA so it might take some time to breakdown.
Patient is required.
Trade closed: target reached
Safe to say we are in early stages of the next BULL Phase
Happy for all who printed :)
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