Today I am charting the The US Dollar Index (DXY) on a monthly chart over a multi-year period.
I am showing a comparison of the DXY price from 1995-2002 with the Price, RSI and MACD resembling the current price, current RSI and current MACD. I circled and highlighted the areas of comparisons. Furthermore, I overlaid the historical price over the current price to see where the top may be before a reversal. Shockingly that price range is very close to my DXY price on the January 27, 2022 Idea I showed. Check that chart out as well!
When zooming out, the US Dollar price looks very bullish in the long-term. This is a monthly chart so please be patient with price action.
What are your opinions on this? I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Nice look. Do you think this will be a fight for crypto to stay elevated with a high $?
MillionaireEconomics
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@TheKitchenTrader, if DXY truly continues to go up as shown in the chart, all other asset classes including crypto will suffer. What is concerning is the pattern shown above is a 5 year pattern so the real question is will crypto bear market show a lengthening cycle. What's also interesting is the pattern prediction shows that DXY will see a downturn in 2024 which is around the time that the next BTC halving will occur. Will this pattern really play out? Good question!