Thoughts on the USDThe DXY is approaching a ket level of resistance. The Fed is clearly a dove in a hawks disguise right now. They cannot crater the equity markets by rapidly increasing interest rates so they are choosing their words carefully. The Fed will likely increase rates 4 times this year, but they do it slow and steadily. I believe the DXY is overvalued and could be due for a crash when tapering takes place. The dollar is weak. Bitcoin is ready to replace.
- T-1 seems likely after CPI news tomorrow
- Expecting 7% or more
- T-2 seems if T-1 is hit
- Confidence will swoon in the dollar, triggering further sell-off
- T-3 is likely during March (if interest rates increase)
Good Luck,
- Mr. Bitcoin Baron
