August 23th
Chapter3
Dxy (Dollar Index)
First of all, I think we should start this week with the dollar index.
Strengthening post-week close above 103 started to crush other parities and started a move towards 108 level!
This has caused some concern in global markets.
Especially if the dollar index goes above 109 this week, it will trigger the acceleration of the withdrawal in the crypto markets and cause the EUR/USD parity to fall below 1.
Bitcoin 2-week view
https://www.tradingview.com/x/uqlFPIks/
On the chart, we see a yellow dashed line that must cross for Bitcoin to turn into a positive outlook in the horizontal movement on May 23 and the price to go to 28,000 and then to 32,000.
Looking positive without crossing this yellow dashed line will be dangerous and cause serious losses.
So what we can do in this kind of situation?
Before everything, the horizontal movement of the price between 19.500 and the yellow dashed line 25.500 should be followed closely!
Bitcoin 1-hour view
https://www.tradingview.com/x/jxQ5YXHh/
What should you do in a short time frame?
Unless the price stays above 21,800, it will be looking for a new low.
So where will these lows be?
We can say that the 19.500 level that I mentioned in the wide time frame will again become important.
This Range will offer you opportunities in a small period of time and you can use and evaluate them accordingly and make your plans!
