BitcoinUpdated Bitcoin rally coming to a stop
When ever the US dollar index or DXY has gone down, Bitcoin or BTC has rallied. However there is always a strong support for DXY, in the recent years it is around the 87-88 range. As DXY now approaches this level, it will once again bounce up and be bullish, in which BTC will consolidate or go down. I am neutral on BTC for the next month or so.
Trade closed: target reached
BTC fell down to $28,990 after this post. Almost 15%! Keep this analysis in mind in the future when trading cryptocurrency.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.