Dr. Jeff on Nostr: What I'm watching... 👀 A strong negative divergence is forming on the $DXY daily ...
What I'm watching... 👀
A strong negative divergence is forming on the $DXY daily chart.
After it's recent (impressive) surge, a US dollar breakdown is IMMINENT... and likely to be triggered by the (dovish) words of Jerome Powell and the (dovish) actions of the FOMC later today.
Why it matters:
A breakdown of the US dollar is NET POSITIVE for risk assets, emerging markets and--you guessed it--#bitcoin.
I wouldn't be surprised if #bitcoin pushes towards $100k by the end of 2024, given the current macroeconomic setup.
Not a bold prediction, just a guess. Let's watch. 🍿
Published at
2024-11-07 13:05:57Event JSON
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"content": "What I'm watching... 👀 \n\nA strong negative divergence is forming on the $DXY daily chart.\n\nAfter it's recent (impressive) surge, a US dollar breakdown is IMMINENT... and likely to be triggered by the (dovish) words of Jerome Powell and the (dovish) actions of the FOMC later today.\n\nWhy it matters:\n\nA breakdown of the US dollar is NET POSITIVE for risk assets, emerging markets and--you guessed it--#bitcoin.\n\nI wouldn't be surprised if #bitcoin pushes towards $100k by the end of 2024, given the current macroeconomic setup.\n\nNot a bold prediction, just a guess. Let's watch. 🍿 \n\nhttps://m.primal.net/Lvfr.png ",
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