As I track BTC, I also track DXY as they are closely correlated. The DXY is due for a big retracement to the bottom of the diagonal triangle. This will give a strong push to BTC on the way up. I now target at least the 42 k level for BTC, and midterm, the 58K...needs to break a few resistances before I turn completely bullish. I still think we will go to 22k after this run-up, with the DXY recovering in September pushing BTC to the 22 k...after that, around late December, BTC will finally resume the bull market till march next year 90k min target. In the chart here presented, we can appreciate a bearish divergence, so the dollar is finally losing momentum, which will be the catalyst for the next move down. It won't go down straight like a rock; there will be a retest at 91.50 a little bounce to then collapse all the way down to the bottom at 89.60. Check the chart for more info
Enjoy the ride and be patient.
Enjoy the ride and be patient.
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