We are seeing 233ma crossed and that is a very bearish sign, a smart money bull for DXY would be taking profit once the 233ma got broken, as that is your sign things aren't going great. Bitcoin is also under the 233ma on the weekly and it dumped hard from it, but now it might be on its way back especially if DXY starts dumping - I expect to happen this week.
Why 233ma you might ask? Well it is a fibonacci number for one, and is close to the 200ma that everybody uses. If you look at the gold chart, the recent bottom happened exactly on the 233ma where it bounced 3 times. Pretty cool ma to follow, it is very telling of the long term direction.
As a crypto trader, I love seeing that, as that strengthens the bullish case for bitcoin as it is inversely correlated to the dollar (in most cases, other than when the FTX fiasco happened while DXY dumped)
For that reason, coupled with the fact that DXY always makes a lower high on the macro timeframe, I am very bearish on it right now.
Good luck with trading
