DXY/BTC inverse correlation
Comparing BTC and DXY (US dollar) weekly charts side by side they look almost directly inversely correlated since the beginning of 2017.
Comparing their monthly charts: DXY is looking toppy potentially forming the right shoulder of a H&S while also approaching historical resistance. BTC is approaching historical support at the $2.8-$3 level.
With fiscal policy pointing towards inevitable inflation through tax cuts, trade wars (tariffs), rising debt, etc. as well as monetary policy heading the same way via QT (quantitative tightening) via the rising of interest rates I would not be surprised to see a toppy dollar in the somewhat near future near resistance. And with BTC at yearly lows after a massive ~80% selloff I wouldn't be surprised to see it bottom in the somewhat near future near monthly support (2.8k-3k) continuing the inverse correlation with the US dollar that has developed since the beginning of 2017.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.