Blocksmith Says: DXY Chart Hints at Incoming Crypto Rally

29 September 2022

Directly relevant to crypto is the dollar index (DXY) – if it falls crypto should rally. Right now we are testing the peak of the 20 week cycle which is due to roll over with the next trough expected mid-November. 

The second 80 day cycle in the set is due to trough at the same time. Price just flew out of the top of the
June channel on excessive momentum. To me, this looks like an exhaustion break and the preferred view is a failed attack higher then DXY falls over shortly.

Christopher Grafton
Christopher Grafton

Chris has been working in the markets for over 15 years variously as a broker, analyst and researcher. He is the author of a well-known book on Hurst cycles analysis, and runs his own market analysis software platform on Bloomberg. He’s also a keen student of both the cello and Brazilian Jiujitsu.

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