DXY Technical Analysis Chart ( inverse proportion To Bitcoin )
DXY - Long term Technical Analysis:-
TimeFrame:- 1 Week
✨DXY is currently at $100.5 Level.
✨DXY is Moving in a Bigger Support & Resistance Zone.
✨Multiple Price Rejections are seen from Support & Resistance zones.
✨Price is in Crucial Resistance level of
$100.5 - $103 level .
✨RSI bearish Divergence is also seen, While RSI is in OverBought levels.
✨Bearishness is expected in DXY by looking at Current Price Action.
✨We need to wait till the confirmation of Price Rejection from the Resistance zone.
✨ If the Price reject then it can go to the levels of $95 , $93 or $90
✨ For Bullishness in DXY = Price needs to give a Breakout of $103 level with Strong Bullish Green Candle and should give closing above it.
✨If DXY gives a Breakout, Then the Price can go up to levels of $115 - $120 or higher.
Conclusion =
1)- If DXY Breakout Above $103 Mean Bitcoin Super Bearish and Target would be $34000 Again.
2)- If Rejection as per the chart then we can see Bullish Mode Continues And Target would be $52800.
Folmula = Y = 1/X
Where Y = DXY
and X = Bitcoin
Thank you for Reading.
Don't forget to Like and Share.
Show Some love in the Comments.
TimeFrame:- 1 Week
✨DXY is currently at $100.5 Level.
✨DXY is Moving in a Bigger Support & Resistance Zone.
✨Multiple Price Rejections are seen from Support & Resistance zones.
✨Price is in Crucial Resistance level of
$100.5 - $103 level .
✨RSI bearish Divergence is also seen, While RSI is in OverBought levels.
✨Bearishness is expected in DXY by looking at Current Price Action.
✨We need to wait till the confirmation of Price Rejection from the Resistance zone.
✨ If the Price reject then it can go to the levels of $95 , $93 or $90
✨ For Bullishness in DXY = Price needs to give a Breakout of $103 level with Strong Bullish Green Candle and should give closing above it.
✨If DXY gives a Breakout, Then the Price can go up to levels of $115 - $120 or higher.
Conclusion =
1)- If DXY Breakout Above $103 Mean Bitcoin Super Bearish and Target would be $34000 Again.
2)- If Rejection as per the chart then we can see Bullish Mode Continues And Target would be $52800.
Folmula = Y = 1/X
Where Y = DXY
and X = Bitcoin
Thank you for Reading.
Don't forget to Like and Share.
Show Some love in the Comments.
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