Is The DXY Poised For A BTC-Wrecking Surge?

WHY WE BETTER BE PAYING ATTENTION TO DXY RIGHT NOW

All across the cryptosphere, we’re hearing talk of a massive bullish breakout. In my recent video, I made several points to the contrary, showing what I see on the current BTC chart that clearly say otherwise.

Besides the fact that we are on the front end of a possible recession, with the “CP-Lie” (Con-sumer Price Index) on the rise and several other dire economic situations broiling, bullish sentiment seems to be out of control. But are we considering one glaring fact that practically NOBODY is talking about?

Perhaps…

It’s the DXY, or “US Dollar Index”. As we speak, the DXY chart could possibly t-bone the bullish masses, as it is poised for a possible run after falling off a cliff since the beginning of October 2022.

While there certainly isn’t any guarantee of what “could” happen, we have to consider the indications that are sitting right in front of our faces on the DXY 1-day chart. The stochastic has buried out in the “oversold” zone, although this is really just an indication of a weaker dollar. But the fast line and the slow lines on the oscillator have crossed over, and are pointing north now.

The DXY completed an absolutely absurd run from the end of June, 2022, to the beginning of October. Then it plummeted, completing a full stochastic cycle for the first time since the year 2021. The oscillators on the MACD are also rounding off a bottom, hinting at a reversal while the histogram is printing light red bars, indicating a movement of strength.

If this plays out, and the DXY regains strength starting a new bullish romp, this could coincide with the BTC chart showing a clearly “overbought” condition. As we know from history, a rising US Dollar spells disaster for the Bitcoin price.

While this is complete speculation, I think it would be wise to consider the possibility of a DXY romp, which traditionally runs opposite to the Bitcoin price action. Don’t take this as financial advice, but use this to balance your bullishness in preparation of a final BTC correction before the next bull cycle officially starts.

We’ll keep our eyes on this, and I will have a full video report as the action unfolds!

Carlton Flowers
The CryptoPro

https://www.youtube.com/c/CryptoProCarlton