Hidden bullish divergence on the weekly chart for DXY/BTCUSD which may cause price to make a higher high which would hopefully bearishly retest the rising wedge and that would be Bitcoin hitting the 1.618 at $16,783 and thats when DXY/BTCUSD will get a rejection and a massive pump for bitcoin and big dump for the DXY. The daily time frame shows an oversold stochastic rsi and the MACD is losing selling pressure which adds confluence that DXY/BTCUSD may create a higher high and would form that lower low in Bitcoin.
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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.