This Could Be the Last Resistance for Bitcoin Bulls: What Does 689 Points Mean in the BTC/DXY Pair?
When we examine the chart above, we can see that the critical resistance/level that Bitcoin needs to surpass before making a new ATH (all-time high) is 689 points.
Historically, the periods when Bitcoin bull rallies have accelerated have been the times when the BTCUSD/DXY pair reached the peak of the previous bull rally. In the current interim period, referred to as the ETF rally, Bitcoin has yet to close weekly above the previous rally's peak of 689 points.
Therefore, we can say that a weak DXY is needed for a Bitcoin bull run. In a scenario where the DXY weakens and BTC strengthens following an interest rate cut in the coming weeks, we may witness this pair surpassing the 689-point level.
This is why it is crucial to keep an eye on 689 points in the BTCUSD/DXY.
Thank you for reading.
When we examine the chart above, we can see that the critical resistance/level that Bitcoin needs to surpass before making a new ATH (all-time high) is 689 points.
Historically, the periods when Bitcoin bull rallies have accelerated have been the times when the BTCUSD/DXY pair reached the peak of the previous bull rally. In the current interim period, referred to as the ETF rally, Bitcoin has yet to close weekly above the previous rally's peak of 689 points.
Therefore, we can say that a weak DXY is needed for a Bitcoin bull run. In a scenario where the DXY weakens and BTC strengthens following an interest rate cut in the coming weeks, we may witness this pair surpassing the 689-point level.
This is why it is crucial to keep an eye on 689 points in the BTCUSD/DXY.
Thank you for reading.
SPK lisanslı Midas ile ABD borsaları, BIST ve TEFAS fonlarına tek platformdan, masrafsız yatırıma başla!
app.getmidas.com/gmih/xuyw9hdp
app.getmidas.com/gmih/xuyw9hdp
関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
SPK lisanslı Midas ile ABD borsaları, BIST ve TEFAS fonlarına tek platformdan, masrafsız yatırıma başla!
app.getmidas.com/gmih/xuyw9hdp
app.getmidas.com/gmih/xuyw9hdp
関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。