BTC showing strength against DXY (Squared)This is BTCUSD divided by DXY ^ 2.
My message is simple, though it is not foolproof in any way. Just an entertaining and interesting chart I've been staring at, in addition to BTCUSD divided by NASDAQ (BTCUSD/NASDAQ).
The message is that even though the DXY is in an uptrend at the moment, perhaps with all the crypto uses popping up around the world, this time not only in the long term (financial institutions buying, banks offering crypto services, long-term holders buying back into BTC), but also in the SHORT term (uncertainty in the world, uncertainty in the stock market, Russian interest rate hikes, Ruble collapse and 20% interest rates by centralized Russian banks).
Quite the interesting landscape, I must say. Not giving any advice, just pointing out that one indicator is showing strength above one timeframe's Ichimoku on one chart I've simply made up. Just hope it helps you formulate your own ideas and trade with more knowledge.
