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Saturday, August 15, 2020

DXY Falling out of Broadening Structure (Bullish for Crypto)

DXY Falling out of Broadening Structure (Bullish for Crypto)

From the period of 2017 to 2018 you could see a large drop in DXY (which occur ed the same time as the crypto bull run of 2017). This caused the crypto market to increase in market cap by hundreds of percent. We are once again in one of those situations today (see the obvious broadening structure that DXY has recently fallen out of. It is my believe that as long as the dollar continues on a downward trajectory this should serve as a bullish indication for dollar denominated assets. Watch for a bounce towards the end of the year 2020 (we should get a significant bounce in the dollar at some point; which would cause money to leave the crypto market in that scenario.

THIS IS NOT FINANCIAL ADVISE, ASSUME YOUR OWN RISK; Y'ALL ARE ADULTS.



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