Happy Friday, Cryptocademy!
The US dollar index (DXY) tested a big resistance level today at 94.60. I’ve mentioned this area several times in recent videos.
In today’s issue, I’ll discuss exactly what I want to see from the DXY to signal strength from cryptos and what Bitcoin needs to do to break out from consolidation.
Plus, updates on ETH, LINK, and VET!
Late 2017 Repeat?
I’ve discussed the role the DXY (US dollar index) plays with Bitcoin for weeks now.
It boils down to the US dollar being the reserve currency. Therefore, we tend to measure the value of alternative currencies (like crypto) against it.
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