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$DXY, As long as the DXY remains bearish, it doesn't make sense to be bearish on broader risk-on assets like #Crypto and Stocks.
Key Observations:
• DXY has lost support at both the 100 and 50-period S&R levels.
• The next potential area for a scalp bounce is around 102-102.3, near the 200-period support.
The major area for a potential local bottom is around the range lows at $100.8. This is also where I anticipate $BTC to top out and undergo its first major correction after the 2023 rally.
I expect this to unfold around March-April 2024. This could potentially be the last major correction before the main BTC bull run in late 2024-25.
#DXY Bitcoin #Dollar USD