#DXY : The dollar is weakening. Should we expect Bitcoin to rise? 📉📈
Analysis of the US Dollar Index (DXY) for the new week.
Last week, the dollar was strongly rejected at the 102.769 zone and slid to 101.649. The price is now testing support at 101.500. The overall structure remains bearish.
What does this mean for crypto?
This is great news for digital assets and gold. A weaker dollar usually pushes risk assets higher.
📍 Bearish scenario (Priority):
A break below 101.500 and a sustained move beneath it would send the index down through a cascade of targets: 101.300 / 101.100 / 100.900 / 100.700. This would be strongly positive for BTC and ETH.
📍 Bullish rebound:
This is only possible if the price returns above 102.00 and holds there, with targets around 102.300–102.700.
Fundamentals are also weighing on the greenback: talk of a pause in rate changes, along with PMI and unemployment data due this week, is keeping pressure on the US currency.
#Macro #trading
$BTC
$ETH
Analysis of the US Dollar Index (DXY) for the new week.
Last week, the dollar was strongly rejected at the 102.769 zone and slid to 101.649. The price is now testing support at 101.500. The overall structure remains bearish.
What does this mean for crypto?
This is great news for digital assets and gold. A weaker dollar usually pushes risk assets higher.
📍 Bearish scenario (Priority):
A break below 101.500 and a sustained move beneath it would send the index down through a cascade of targets: 101.300 / 101.100 / 100.900 / 100.700. This would be strongly positive for BTC and ETH.
📍 Bullish rebound:
This is only possible if the price returns above 102.00 and holds there, with targets around 102.300–102.700.
Fundamentals are also weighing on the greenback: talk of a pause in rate changes, along with PMI and unemployment data due this week, is keeping pressure on the US currency.
#Macro #trading
$BTC
$ETH