Issue 108 – All Eyes on the US Dollar Index

November 5, 2021

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!

Let’s begin!

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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Justin T Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast.

My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig.

The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight.

Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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