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.
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.
For your vote or comment, thank you
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