Make or break for BTC? DXY is down but U.S. stocks face serious resistance.
the former as a key level to retain, this nonetheless in question at the time of writing as stocks shed 1% to start the session.whether it was time for a “decision” on S&P 500 performance, eyeing a pattern which suggested a local top may soon appear.
Should that be the case, Bitcoin’s correlation to traditional risk assets would be tested, this having ebbed in the wake of the FTX meltdown. For the meantime, however, the inversely-correlated U.S. dollar gave bulls little to worry about, the U.S. dollar index hitting five-month lows.U.S. dollar index 1-day candle chart. Source: TradingView“I think the probablity for a longterm correction is high from here on,” he
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