DXY 1/18/2021
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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Good day guys! Its been a long time since I post a technical analysis.
So, I will start first on DXY before the Cryptocurrencies.
Please read also my previous TA last December 25, 2020 relevant to this TA.
___
Technical Analysis
Monthly
The Monthly Time frame still favors the bears but watch out for a possible corrective bounce as the RSI is closer to 30 level and also the lower time frame shows a possible trend reversal or a just corrective bounce on this down trend.
I forgot to include MA 200 on Monthly time frame as condition. So, include it.
I think if we met those three conditions. Its good for stocks and cryptocurrencies
Weekly
I don't know if that divergence is enough for a trend reversal but most likely a corrective bounce on this down trend. I think this is not good for Bitcoin or Bitcoin will make a pullback possibly. I see a strong inverse correlation between US Dollar Index and Bitcoin on Weekly and Monthly Timeframe. So, I think this maybe a warning sign for Bitcoin Bulls and US Dollar Index Bears. So, keep a close attention to the trades as volatility may spike higher.
Daily
In the Chart Itself
4HR
In the chart itself
Targets in the Short term
1HR
_______
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
____
Good day guys! Its been a long time since I post a technical analysis.
So, I will start first on DXY before the Cryptocurrencies.
Please read also my previous TA last December 25, 2020 relevant to this TA.
___
Technical Analysis
Monthly
The Monthly Time frame still favors the bears but watch out for a possible corrective bounce as the RSI is closer to 30 level and also the lower time frame shows a possible trend reversal or a just corrective bounce on this down trend.
I forgot to include MA 200 on Monthly time frame as condition. So, include it.
I think if we met those three conditions. Its good for stocks and cryptocurrencies
Weekly
I don't know if that divergence is enough for a trend reversal but most likely a corrective bounce on this down trend. I think this is not good for Bitcoin or Bitcoin will make a pullback possibly. I see a strong inverse correlation between US Dollar Index and Bitcoin on Weekly and Monthly Timeframe. So, I think this maybe a warning sign for Bitcoin Bulls and US Dollar Index Bears. So, keep a close attention to the trades as volatility may spike higher.
Daily
In the Chart Itself
4HR
In the chart itself
Targets in the Short term
1HR
_______
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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