👻 $DXY $BTC Divergence [What's up with $EURX and $CRO?]

26 thg 8, 2022

Usually when DXY tanks, BTC and other investment assets rise, but today is again diverging from the norm (2 or 3 time in the past days). What explains it? Perhaps the fact that EUR is 🔺 up? A rebalancing of the currency books, perhaps? Or we're setting up for a fake out in during US open. Where are my currency experts at?

The market seems to expect more dovish announcements during the upcoming Jacksonhole FED event; my take based on Chair Powell's speech in June is that we could indeed expect rather a 100bp hike (very hawkish) or at least 75bp, again like last time. The doves are hoping for a 50bp hike. If we get 50bp, does it feel like the market will be ready for a rally?

I stopped out of the majority of my CRO short around .13. Looking to add more back in some more if we dump through the .1285 - .13 range and retrace back to these levels.

I expect 20750 to be an important stopping point for BTC and opportunity for quick long scalp for a few points if the dumpiness continues during the EU trading session, as I would expect the US brinks to put a little long pressure on before it shows it's true intention for the day to either continue the DXY dump and move into longing other asset prices, or to reverse and really dump the markets at market open.

Summary, SHORT.

My analysis still isn't solid and clear; but i'm hoping you're following along and interested anyway. Comments, suggestions, questions welcome! GL out there!