With the recent Bitcoin rally avove new highs and currently over $72k, the DXY is also showing further weakness on this chart.
This signals the BTC rally will continue and I believe straight to $80 if not $100k before the halving.
See my other sudies on 'The Path to $100k - $155k Bitcoin' for reasons why this is in play.
✅ DXY Index has succeeded in completing a Rising Wedge Pattern near the 🔴 Resistance zone($105.90-$104.64) 🔴.
🔨DXY also managed to break the lower line of the Rising Wedge Pattern and is currently breaking the 🟢 Support zone($104.30-$103.89) 🟢.
💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks .
🔔After breaking the 🟢 Support...
The DXY is currently trading within a well-defined monthly sideways trending range. Price action is testing a key support level, indicating a possible retracement towards previous resistance. A bullish break of the current 1D/4H downtrend, followed by a retest and failure of the range, could present a potential buying opportunity.
Disclaimer: This analysis...
"The DXY seems to be retracing from 100.615 to take liquidity at 104.565, and we've observed significant price reactions in the area since Monday, November 13, 23. This suggests that the DXY is currently showing efficiency and may be inclined to move lower towards 99.559.
However, reaching 99.559 might face resistance due to a "shield area," which could...
Pair : DXY Index
Description :
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves
Fibonacci Level - 23.80% / 32.80%
Impulse Correction
Rising Wedge as an Corrective Pattern in Short Time Frame
Demand Zone
Monthly: The price has been rejected and closed bellow, from the M-IRL. Now we can anticipate that the price will go down towards M-ERL 100.617.
Monthly Bias: Bearish.
Daily: In daily chart, the price has formed a Bearish Breaker, after touch the M-IRL. It depicted that its a clear sign of Bearish confirmation in Daily chart. So the price will be going down...
Last week was relatively quiet for TVC:DXY , with the price fluctuating within the support and resistance range. However, as detailed in a previous analysis, the odds favor a downward break.
The index began the week poorly and is currently trading near confluence support once again. A break at this level, given the prolonged consolidation, is likely to...
Life happen for you not to you.. those who fail to plan, plan to fail..
Traders our discipline and consistency prevail again today.
If you don't fail you are not even trying, don't complain about the trades you lost and the money you did not make..
A lot of people spend dollar but do not make money from it..
With detailed analysis we have prepared ourselves...
I often talk about the power of looking over our trades for those highs and lows over time, not because we can not trade but because we can be dynamic.
Well to put it simply, I am bullish on DXY this year but price failed to break above 105.00 and 104.000 respectively..
Price seem to be unfolding to bring about something beautiful on the chart, this might just...
MARKET PHASE
TVC:DXY is in a weekly uptrend with a daily timeframe corrective structure taking place.
AREA OF VALUE
We can expect a buildup of liquidity (sell stops, shorts, stop losses) below the Feb 20, 2024 daily swing low. On the 4H timeframe, we are already seeing buying pressure taking place below the Feb 20, 2024 daily swing low.
TRADE
...
Watch DXY tonight when pre trading opens.
Rejection from here is possible but the MACD has th eroom to push it over that trend line and to turn it into support if the DXY Bulls decide to try it
If they do, it will be very interesting to see if the Selling pressure takes over again.
A Drop from here would be Good for Crypto......
One thing that Shows that...
Pair : DXY Index
Description :
Completed Impulsive Waves " 12345 " and " A " Corrective Waves
Break of Structure
Rising Wedge as an Corrective Pattern in Short Time Frame with the Breakout of the Lower Trend Line and Retracement
RSI - Divergence
Dxy coming days-weeks is definitely going to break out of 100-107 range to the top of 114.. with a possible fakeout above 114.
Warnings been given.
Pin this if you want.
Given the time of the year, DXY is likely to keep a small range until FEb.
Possible 104.5 - 105.0 by December END.
Then Sells to begin the year toward 102 - 101.50
Not financial advice.
These are my opinions.
Today's focus: USDX
Pattern – Continuation (Bullish)
Support – 103.65
Resistance – 103.96
Hi, traders; thanks for tuning in for today's update. Today, we are looking at USDX on the daily chart.
Today, we are asking if the USDX will set off on a new continuation higher after posting further bullish price action. The worry is if we don't see a close above...
On the higher time frame, the DXY exhibits a bullish trend, characterized by recent retracement into the 50% level on the Fibonacci. As we delve into lower timeframes, our focus sharpens. Specifically, we are on the lookout for price to form a double bottom setup—a pattern that often signals a potential reversal. This setup involves a break below the previous...
