2021-09-18 05:22:27
https://www.tradingview.com/x/1apY3QTK/
#Dollar Index Update
DXY is inversely correlated to Bitcoin, like GOLD is correlated to Bitcoin.
You can see that today dip on BTC and crypto market in general was caused by this inverse correlation with DXY.
I don't follow a lot the NEWS about stocks or even crypto as I know that it's a rekt game, and another way to make retail loose or FOMO buy.
Insiders are always having NEWS before you even when it's coming from known sources like Bloomberg, CNBC, they still have the AI power to detect key words in the news and opens trades accordingly in seconds.
Charts are here to make you try to see the step they're planning to do before they do it, not saying that you will read everything on a chart but if you manage your risks accordingly you can get a good hedge being focus on what charts are saying.
Let's come back to DXY :
You have to know that when the economy is fearful, retails tends to sell their profits ( GOLD / STOCKS / BITCOIN ) which causes Dollar to pump, there's many economic factors, I just wanted to make it clear for everyone.
It's still looking highly bullish, being held by the D1 200EMA, we got two green days that affected BTC and stopped it, at the moment markets are closed that's why BTC is moving up, but we have to watch closely how DXY will react next week.
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