- February 3, 2023
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
In continuation of our recent BTC-DXY cross comparison studies, we will quickly bring you today a trend-line that may have gone overlooked and can pose a real Resistance to Bitcoin (BTCUSD) in 2023.
As you see, if we exclude the March 2020 COVID crash period which is a non-technical irregularity, there is an underlying trendline on both assets, which on Bitcoin was the Support since late 2016 while on the U.S. Dollar (DXY) was its Resistance. A more controlled rise/ decline respectively may provide the true Resistance level in 2023.
What are your thoughts?