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Dollar Index going on plan for a reversal, seems like a big dip is coming
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$BTC correction to 63.9-64k seems imminent before any next moves, 65.6k support is weak atm with volume dropping and high selling pressure earlier
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Dollar Index Analysis and possible scenarios
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Correction is not over yet ⚠️ as $BTC loses position and proving to be a fakeout, its losing volume and support it still has a chance to consiledate above 62k, if that doesn't happen, a further drop is expected according to Ichimoku Cloud a correction to 60k is expected on 1h-4h Frame, while on Day frame it might drop further to 56k, either for a double bottom reversal or the downtrend continues to its target of 52k while according to the bearish wedge (supposing it was a false breakout), correction should be around 59k before retest the market seems bearish today, $BTC on selling and high selling on most indicators im surprised there wasnt a big jump on BTC with Dollar Index dropping for a correction, which indicates either a rebound for Dollar Index is expected, or the prices are being manipulated the downtrend might still be on afterall #BTC #altcoins
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Dollar Index is back online ⚠️ i think its gonna be volatile this week in such critical point, it had broken back into the falling wedge earlier and currently on the way for the second attempt of breaking out of it after going for a deep correction, a reversal uptrend is ongoing do not trust the market especially now that we're within a bearish wedge, what are the chances of breaking out? only works if Dollar Index crushes besides i still believe the downtrend never stopped, have we reached back any of the previous prices? as long as we're still getting lower highs and lower lows its still on with daily candle closing within the descending triangle we're probably back into it Watch Dollar Index chart (Dxy) also watch SPx500 chart, $BTC usually follows it goodluck everyone #BTC #buythedip #altcoins #BTC
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