Close above 92ish today, with a backtest of this level, would confirm DXY's move into this range where highs approach 95
I can't see it hitting this high, but it would defo make sense for it to collect some liquidity above 92.8 and test the mids
92.8 lines up well with golden pocket of recent play so that could be the top for DXY imo
If it does move to mids and above it could defo hinder BTC's move to it's ATH and beyond, maybe stalling it and sending it lower to 49's
You could say dollar strength makes no sense due to inflation and money printing but at the same time the DXY is relative to other currences not cryptocurrencies
Other currencies have all become relatively weaker due to money printing and creeping inflation also so the FED printing money doesnt necessarily mean DXY death, not in short term anyway!
I can't see it hitting this high, but it would defo make sense for it to collect some liquidity above 92.8 and test the mids
92.8 lines up well with golden pocket of recent play so that could be the top for DXY imo
If it does move to mids and above it could defo hinder BTC's move to it's ATH and beyond, maybe stalling it and sending it lower to 49's
You could say dollar strength makes no sense due to inflation and money printing but at the same time the DXY is relative to other currences not cryptocurrencies
Other currencies have all become relatively weaker due to money printing and creeping inflation also so the FED printing money doesnt necessarily mean DXY death, not in short term anyway!
more resistance at 93.2 lets see....