Currently,
DXY is sitting on top of a level that acted as resistance for almost a decade.
Bitcoin is sitting below a major high time frame resistance level (former support)
ETH has just deviated above a high time frame swing point, retested that level as resistance and is moving back down
Technically, these three confluent factors (as I have been saying for weeks) have lead me to having no crypto position beyond a small amount of USDT for scalping purposes.
With invalidations so clean this is an easy high time frame hold. If DXY breaks back into the multi year range I fully suspect rippage upwards in crypto and there will be plenty of time to position once we are closing weekly candles above the current resistance areas.
Thanks for reading and good luck to you all.
DXY is sitting on top of a level that acted as resistance for almost a decade.
Bitcoin is sitting below a major high time frame resistance level (former support)
ETH has just deviated above a high time frame swing point, retested that level as resistance and is moving back down
Technically, these three confluent factors (as I have been saying for weeks) have lead me to having no crypto position beyond a small amount of USDT for scalping purposes.
With invalidations so clean this is an easy high time frame hold. If DXY breaks back into the multi year range I fully suspect rippage upwards in crypto and there will be plenty of time to position once we are closing weekly candles above the current resistance areas.
Thanks for reading and good luck to you all.