Hello everyone, today is November 4, 2023, and a beautiful day has begun again. Today I want to talk to you about the impact of the collapse of the US dollar index on cryptocurrencies. Now, our BTC long position has been held and has not been closed!

Let’s take a look at the daily line first. Yesterday I mentioned that there may not be a sharp retracement this time, but it may be a box consolidation. Among them, 34K is a very important short-term support level. Yesterday, the BTC 34K position was just over 100 US dollars away. If you dare to buy near 34K, you should also make a profit today. However, I still have to remind everyone that there may not necessarily be a sharp retracement.

Next, we need to carefully analyze the BTC monthly TSI indicator. Come and take a look, everyone has now seen the crazy bull market golden cross of the TSI indicator, which represents a very strong crazy bull market! Here, I want to tell you, don’t expect a sharp decline or a midline retracement. The probability of this is very low. We can also look at the historical experience in 2016 and 2019-2020. The golden cross at that time was not so prone to death cross.

Let's look at the 2-year U.S. Treasury bond yield. It consolidated from highs and then slowly declined. There will definitely be low interest rates in the future. Dear Bitcoin holders, we must strengthen our confidence. In 2019, Bitcoin was also at a low level, and then it went all the way up. Although the current trading volume is still declining, it may still be a box consolidation, but the price is above the central axis, which is a strong consolidation.

Today’s article ends here. If you like it, you can click and follow ~ more good articles are waiting for you ~

☞Warm reminder:

*This content does not represent the author’s recommendation or market investment;

*Please participate in related investments rationally. Any loss of profits is not related to the content and position of this article and is a personal behavior;

*If you read this content to the end, it means that you comply with the acknowledgment disclaimer;