Breakout in DXY - Bitxoin's Reaction

BINANCE:BTCUSDT   Bitcoin / TetherUS
The DXY is expected to breakout by 02-07.

The direction of momentum is yet to be decided, with both options shown on the top chart.

DXY movement may base around trend lines , colour-coded from red-green .
(Orange = Weakest, Green = Strongest)

Bitcoin is expected to react to either movement.

An Upside break for the DXY would suggest a further test on the $31,000 / $30,000 support level .

A downside break for the DXY would provide bullish momentum for BTC . A break of the resistance at ~$34,700 would bring the 0.5 & 0.618 fib levels into action.

Calls invalidated until breakout direction is confirmed.


3 tests of pictured target level show strong resistance.

BTC is in the process of testing the $31,000 support level.

Longs valid, refer to newest idea for S/L / Entry.
DXY has been rejected from price target, providing bearish momentum and subsequently breaking the weak ascending trend line.

Bitcoin is fast approaching strong resistance at ~$35,100 (0.5 Fib).

Still waiting on DXY to retest the ascending trend line and confirm its flip into resistance. After this test, BTC:USD longs are validated.
Upwards momentum in the DXY is currently supported by the weak ascending trend line (pictured in orange). This trend line may collapse, promoting the stronger trend line (pictured in yellow) as the next support level.

Bitcoin is performing well despite the strength shown in the DXY, calls remain invalidated until a definitive move in the DXY is shown.