DXY 12/6/2020

٥ ديسمبر ٢٠٢٠

I think this chart is very interesting in the long term. Specially, it has an inverse correlation to S&P 500 and Bitcoin. I think in the next weeks of December 2020, it may test 88.155 as the long term trend line (Violet & Yellow) is broken with a bearish divergence on RSI, Stoch RSI and MACD. If 88.155 is also broken, I think Bitcoin and S&P 500 will up further. But if 88.155 holds and consolidates with a bullish divergence confirmation on RSI, Stoch RSI and MACD, generally not good for Bitcoin and S&P 500. I will visit this chart from time to time. Specially now, that Bitcoin and S&P 500 is making All time highs. So, this chart of US Dollar Index is a word of caution. This is also the reason why I'm bullish on Bitcoin this year.

Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT