Dollar (USD) Falling breaking support, Bitcoin on the rise.

The dollar dxy in correction as expected after marking highs almost a month ago is still in correction.

The important thing today is that it is breaking an important support and is allowing bitcoin to continue to rise.

Almost a month ago I analyzed the inverse correlation between US dollar and bitcoin

This is the link

Where it showed the inversely correlated between Bitcoin and US dollar, which means that when the dollar goes up, Bitcoin goes down, and vice versa.

Returning to US dollar

This line had served as support and resistance on previous dates.

It is important that today's closing candle ends below support and confirms the breakout tomorrow

At the next support it coincides with the 50-period MA line.

If the correction continues, it is good news for Bitcoin and Alcoins.

What do you think?

For your vote or comment, thank you

READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.

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