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What Does 689 Points Indicate in Bitcoin and DXY Relationship?This Could Be the Last Resistance for Bitcoin Bulls: What Does 689 Points Mean in the BTC/DXY Pair? When we examine the chart above, we can see that the critical resistance/level that Bitcoin needs to surpass before making a new ATH (all-time high) is 689 points. Historically, the periods when Bitcoin bull rallies have accelerated have been the times when the BTCUSD/DXY pair reached the peak of the previous bull rally. In the current interim period, referred to as the ETF rally, Bitcoin has yet to close weekly above the previous rally's peak of 689 points. Therefore, we can say that a weak DXY is needed for a Bitcoin bull run. In a scenario where the DXY weakens and BTC strengthens following an interest rate cut in the coming weeks, we may witness this pair surpassing the 689-point level. This is why it is crucial to keep an eye on 689 points in the BTCUSD/DXY. Thank you for reading.
BITSTAMP:BTCUSDLong
by Bullfighterr
DXY Hits Yearly Low: Is a Major Support Test at 100 Coming Next?By reviewing the US Dollar Index chart on the daily timeframe, we can see that last week, the price reached its lowest level in a year, closing at 100.677. Given that the price has dipped below a liquidity pool, we might see an initial positive reaction at the beginning of the week, but I still expect further declines in the Dollar Index overall. Keep in mind that there is a very strong support level ahead for the dollar, which is the psychological level of 100, and we will likely see a significant reaction to this level. We will be providing weekly analyses of the Dollar Index from now on, so be sure to support and follow! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban ((2+4+7+13+15+18+26+36+38+69+87+101+183+209+1000+1002+1000000000+1000000001+ 1000000853)^♾️*69) + 1 !
TVC:DXYShort
by ArmanShabanTrading
1
GOLD Analysis | Mines & World Events | OfficialKieranTrewick | Gold In Depth Weekly Analysis Gold Mine Productions : XAUUSD Surged last week reaching 2 new all time highs of $2,500 and $2,530 amidst ongoing tensions in the middle east, BTC reaching over 90% mined whilst Gold mine productions are struggling to reach the last few years production ratio as they declare it is getting harder to find the precious metal, although the first quarter of 2024 we saw production increase by 4% essentially we have not seen any growth since 2016/2018 with the annual production rate staying around 3,000 tons. New deposits are becoming increasingly harder to find although we have seen some over the recent years such as the current most productive mine based in Uzbekistan and China still leading the race with Australia following closely behind but one thing they have in common is reports of increasingly difficult new metal deposits found. Aside from the discovery process, government permits getting harder to secure and requiring more time to come through have made mining more difficult. Securing licenses and permits needed before mining companies can start operations can take several years. USD News Correlations : Moving onto recent USD events where we saw that the asian markets have remained cautious this Friday as investors closely watch for US Federal Reserve Chair Jerome Powell's speech at Jackson Hole, seeking new insights into the future direction of interest rates. Traders are anticipating significant rate cuts from the Fed due to indications of a weakening labor market. This risk-averse sentiment has driven increased demand for safe-haven assets like US government bonds, leading to lower Treasury yields and a decline in the US Dollar. The Dollar's weakness is also compounded by a fresh round of selling against the Japanese Yen, following hawkish comments from Bank of Japan Governor Kazuo Ueda, who spoke to the parliament on Friday. Governor Ueda reiterated his readiness to hike interest rates if inflation appears set to consistently reach the 2.0% target, though he expressed caution about potential instability in financial markets. Gold, despite a recent recovery, seems poised for its second consecutive weekly decline, with a Fed rate cut in September widely expected. However, Powell's upcoming remarks will be key in determining the extent of future easing measures. On Thursday, gold prices fell by about 1% as the US Dollar bounced back strongly from over a one-year low against other major currencies, amid deteriorating risk sentiment spurred by disappointing US S&P Global business PMI and Jobless Claims data. Additionally, traders have been adjusting their positions ahead of Powell's anticipated speech at Jackson Hole on Friday. Gold prices rebounded on Friday after two days of losses, rising as the dollar and Treasury yields fell sharply. This came after Federal Reserve Chair Jerome Powell confirmed expectations for upcoming interest rate cuts. At the Jackson Hole conference, Powell stated that the Fed is prepared to lower interest rates from their current peak as the labor market shows signs of slowing. He emphasized that future rate cuts would depend on economic data and risks. Following Powell's remarks, the dollar index dropped 0.83 points to 100.67, and Treasury yields also declined, with the two-year note at 3.926% and the ten-year note at 3.817%. JPY News Correlation : According to Market Analyst Konstantin Oldenburger from CMC Markets, the relationship between the Japanese Yen and gold prices has strengthened once again, and a stronger Yen could be a positive sign for gold. Oldenburger noted that the Bank of Japan might have stepped in to stabilize the weakened Yen last Thursday. He suggested that such interventions could become more feasible if the Federal Reserve shifts its monetary policy stance. He further explained that U.S. stocks generally perform well when interest rates are high because liquidity flows back into the USD. However, when rates decrease, this liquidity tends to exit the dollar and seek alternative investments globally. "The Yen could gain from this reallocation," he remarked. After the U.S. released its June CPI data last Thursday, the USD/JPY pair dropped over 2%, sparking speculation that Japan’s Ministry of Finance had intervened. It is noted that hedge funds currently have limited long positions in the Yen and mainly hold short positions, which could need to be covered if a short squeeze occurs. If the Yen continues to strengthen, hedge funds may be under more pressure to reduce these short positions. Historically, a stronger Yen has been positively correlated with gold prices, suggesting that gold could also see gains. Gold prices continued to climb on Tuesday due to increased safe-haven demand from China. The People’s Bank of China (PBoC) issued new import quotas for gold to banks, sparking speculation about a surge in demand, according to broker SP Angel. The demand for gold as a safe haven in China rose after Chinese 10-year government bond yields hit record lows last week, leading Chinese investors to look for alternative safe-haven assets, with gold being a prime choice and as we know the chinese yuan is heavily correlated with the japanese yen. Conclusion With gold currently priced at $2,511.36, the outlook remains bullish in the short to medium term, especially if current economic uncertainties persist or worsen. Monitoring central bank policies, inflation data, and geopolitical events will be crucial for assessing how high gold prices could go from here. The potential for reaching $2,600 or even higher is present, particularly if market conditions align favorably for gold. What are your thoughts on Gold and its future outlook, let me know in the comments below!
BLACKBULL:XAUUSDLong
by OfficialKieranTrewick
DXY Potential Longs from 100.200 back upMy current bias for the dollar is very much bearish, as price has broken structure to the downside once again. While I don’t trade the dollar directly, I use it as a confluence to confirm trade ideas for other pairs like GBP/USD (GU) and EUR/USD (EU). Since I’m looking to short both pairs right now, this bearish outlook on the dollar makes sense. In scenario (B), I can see the price heading to the 9-hour demand zone, where it might accumulate and then shoot back up to the next supply zone. With the recent break of structure (BOS), a nicely formed 4-hour demand zone is also in play. Since price is currently in a supply zone, I’ll stick with this bias until the dollar "shows its hand." However, if the dollar slows down and begins to accumulate on Monday, we might see some promising opportunities this week. Given that this is a counter-trend trade, I’ll be cautious, aiming for high risk-reward ratios while keeping an eye on the nearest demand zone for entries. Happy trading, guys!
TVC:DXYLong
by Hassan_fx
WTI - Short Trade IdeaThis is a short trade idea that fades the recent expansion upwards. I did an analysis all the way from the yearly timeframe down to the daily, and all arrows still point lower. WTI came into a yearly BISI, which is generally a big deal, but I have a feeling (also based on analysis) that we will come lower into a 6-month BISI and take out the ascending SSL below. The inefficiencies on the daily timeframes are also indicating a move lower. However, caution will be expressed in observing the creation of bullish PD Arrays on the way to my short POI. If price continues up from my short POI and closes candles above on the daily, then we may be looking at higher prices first. USDCAD, which is negatively correlated with WTI to a high degree, has some a large double top on the higher timeframe overview. This would coincide with a move lower on WTI. That being said as a USD pair, how much of a recovery can we expect on the US Dollar is this happens? - R2F
OANDA:WTICOUSDShort
by Road_2_Funded
Powell Says "We're Cutting Rates" - S&P Performance MixedA nice alignment comparing SPX, NDX, RUT with the Fed Funds Rate showing when the FED raises rates and cuts rates and how it impacts the indexes. 1995 Cut Cycle - S&P Higher 1998 Cut Cycle - S&P Higher 2001 Cut Cycle - S&P Lower 2007 Cut Cycle - S&P Lower 2019 Cut Cycle - S&P Higher (but after 30-40% COVID Crash) Nobody knows how this cycle will impact current markets, but we're about to find out. September 18 = 1st cut since 2019 (pre-COVID) and we've seen some impressive booms and busts since 2018. It's pretty remarkable really. The bull markets seem unhealthy, and the bear markets seem more violent and aggressive, but end sooner. How great or how nasty does it get? Let's figure it out and trade accordingly.
NASDAQ:NDX
by ChrisPulver
DXY to drop to 75 or beyondTapped higher fib levels, rejected off a line of a previous high in the past that's contributed to the bearish 1W+ candles. Rate cuts are soon to occur which means less investment in bonds, de dollarization due to U.S. foreign policy economically punishing countries not cooperating with the U.S., U.S. debt exponentially increasing is unsustainable and will make people worry and be more cautious investing in the U.S until the debt bubble pops. Dxy decrease may lead to another sharp rise in inflation and a recession in the years to come.
TVC:DXYShort
by CoCody
6
Buy Gbp/Usd Bullish FlagThe GBP/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent formation of Bullish Flag pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 1.3100, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.3171 2nd Support – 1.3207 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Long
by KABHI_FOREX_TRADING
23
DOLLAR down BITCOIN upThe DOLLAR is the worlds #1 trade and reserve currency #GOLD is the KING of Anti Fiat #Bitcoin is attempting to replace GOLD in the mindshare of people (to a certain extent it has, considering from where it started from just a brief 15 years ago) So observing the major trends of the #DXY is crucial to determine how to place your bets and how much risk you should be taking on. *** The caveat being that the DXY is just measuring the dollar mainly against the Euro and various other major Fiats that become more worthless over the years ... so these decades long gyrations don't actual show you how poorly these #fiat currencies store your value.**** I believe #Crypto is on the cusp of some spectacular returns The #BTC.d will soon reverse You will see #Ethereum and the # altcoins gain some real strength once grayscale has sold down much of it's ETH holdings. The 4 year cycle is back on track ... after running too soon in the cycle. Historically Q4 of a Bitcoin halving year is the start of some explosive up moves. We have been waiting 4 years for this... Do you want to wait another 4 years for 2028 to experience the next Crypto meltup?
INDEX:BTCUSDLong
by BallaJi
Mag 7 Drags Down Large Cap - Potential Index Wedge FormationsThanks for checking out the video today. It was a reasonably nice selloff today, led mostly by the Mag 7 stocks. All US Indexes were in red, Nasdaq taking the worst of it around -1.60% lower. Powell on tap for Friday with Day 2 at Jackson Hole. The market is oh so curious if the FED will cut 25 or 50 bps in September and we have plenty of news to digest prior to the official September 18 FOMC Meeting and Press Conference. If Friday Aug 23's trading day pushes lower and helps balance out the aggressive bull moves from August 5's bottom, we could see a nice wedge pattern in the works - lower highs / higher lows. Watch the S&P Daily 200 SMA or 200 EMA for some dynamic support. It will be interesting to see if the bulls and bears both get what they want with prices on the move through September with volatility returning to elevated levels > 20 perhaps. Thanks for watching!!!
AMEX:SPY
by ChrisPulver
What Wall of Worry? Path of Least Resistance for NowI reviewed an interesting study Tuesday about V bottoms. Over 20 years of data showing the average "V Bottom" takes nearly 1 year to come back and get into positive territory. The fact that all US Indexes and many stocks have done this in 10-15 trading trades is pretty remarkable. Will we more path of least resistance at all-time highs or will we see resistance actual hold for a beat. All US Markets closing green today, Russell 2000 led the indexes today with +1.30% DXY hitting fresh lows, but 101 and 100 are major technical support levels that I'm watching. Review at your convenience. Thanks for watching!!!
CME_MINI:ES1!
by ChrisPulver
2
DXY - somewhere in high time frame demand zone 101.700 - 100.600 is the demand zone on weekly time TF price has pierce down in the demand zone to its mid's the last 4 days of downfall was sharp that it has left only one resistance that could be noted on 103.250 what are the sign to start building long >>> * just on the top of demand zone we have a daily bearish fvg marked (in red) if we have any coming day break that zone with one strong bullish candle will grab the confidence of the bulls * meanwhile with 100.900 low could be sweeped or tested * if that one candle breach that bearish fvg we likely see new daily Order block which will like fuel station to built one by one instead of putting full quality at once --------------------------------------------------------------------------------------------------------------------- yellow line = prediction line red zone = bearish fvg green zone = high time frame demand orange zone = time time frame supply more updates will be done on the comment as per the action goes further
TVC:DXYLong
by Jimmy_Rebello