Continued Chop // DXY Liquiduity Purge validates BTC Longs
DXY broke above key target ~92.68, but was strongly rejected by the ascending trendline. (as per previous idea)
DXY is currently in open space, leaving some uncertainty for BTC.
Extension from the 20W SMA has touched local lows, with potential to revisit further lows of late June.
With BTC nearing strong support $31,000, we can assume any continued downside in the DXY would result in a front-run of longs in BTC.
Smart money is DCAing now.
Limit set: $31,450 // S/L $30,780 // T/P - tbc
Longs validated.
DXY is currently in open space, leaving some uncertainty for BTC.
Extension from the 20W SMA has touched local lows, with potential to revisit further lows of late June.
With BTC nearing strong support $31,000, we can assume any continued downside in the DXY would result in a front-run of longs in BTC.
Smart money is DCAing now.
Limit set: $31,450 // S/L $30,780 // T/P - tbc
Longs validated.