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JordanP @Jopendus
, 6 tweets, 3 min read Read on Twitter
On the way up 6000 became support on BTC when 95 became resistance for the Dollar index. We're back at those same levels now but on the flip side.
Nothing decisive above 95 for DXY so far, looks possible it could back off and give BTC some room.
Looks like bitcoin is out of room, while the DXY is coiled at resistance, while the NVT Ratio is as high as summer 2014. DXY breaking up with NVT Ratio breaking down was the 2014 Shitcoin Holocaust Hodler Shakeout Special Sauce. Pretty similar right now.
4 months later it's still 95 $DXY vs 6000 $BTC. But DXY is breaking up from a descending wedge and #bitcoin is meeting it at the crossroads. Bitcoin won't hold against a real dollar breakout.
No More 95s $DXY/ 6ks $BTC. Currently it's 97s #DXY/ 5ks #BTC. DXY's fighting stance switched from the "Descending Wedge" to the formidable "Cup and Handle" aiming for 100.50. Meanwhile Droopy McDumpsalot is having 2014 flashbacks. I expect 100 DXY/ 4ks BTC before some ranging.
*** 97s $DXY/ 3ks $BTC *** Next move is gonna be a doozy.
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