As stated in my earlier post, Bitcoin is entering the buy zone.
This time, I would like to provide some additional insight on Nasdaq composite index and US Dollar currency index.
Nasdaq, while definitely not looking bullish, is already in a state of preparation for a short term bounce.
How high it might go? I would say at least around 12.5k.
On the other hand, the U.S. dollar currency index (DXY) is overheated and its meteoric rise is losing momentum. It looks like it's destined for a correction (at least short term).
How deep? At least between 101 and 102.
Please keep in mind that I'm using the weekly chart, so these moves might take 1-2 weeks to materialize.
In a normal market I would be close to sure about the provided forecast, but since most markets are being affected by external factors lately, I am somewhat cautious - therefore my stance is neutral to cautiously short term bullish.
This time, I would like to provide some additional insight on Nasdaq composite index and US Dollar currency index.
Nasdaq, while definitely not looking bullish, is already in a state of preparation for a short term bounce.
How high it might go? I would say at least around 12.5k.
On the other hand, the U.S. dollar currency index (DXY) is overheated and its meteoric rise is losing momentum. It looks like it's destined for a correction (at least short term).
How deep? At least between 101 and 102.
Please keep in mind that I'm using the weekly chart, so these moves might take 1-2 weeks to materialize.
In a normal market I would be close to sure about the provided forecast, but since most markets are being affected by external factors lately, I am somewhat cautious - therefore my stance is neutral to cautiously short term bullish.
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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.
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.