Highlighting the inverse relationship between the DXY (yellow line) and the BTCUSD.
Potential weakness on the DXY tonight could see the BTCUSD continue its bounce from the support level of 66,000 (also formed by the 38.2% Fibonacci retracement level from the longer term) up toward the previous high of 72,000.
If the price breaks above the resistance level, significant upside could be anticipated with the next target profit level around the 74,500 area
Potential weakness on the DXY tonight could see the BTCUSD continue its bounce from the support level of 66,000 (also formed by the 38.2% Fibonacci retracement level from the longer term) up toward the previous high of 72,000.
If the price breaks above the resistance level, significant upside could be anticipated with the next target profit level around the 74,500 area
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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.
Join my mailing list jindaotai.com/joinme
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.