Glassnode: The downside of the US dollar index will fuel the rebound of risk assets BTC and SP500 until the end of summer
Bitget2024/05/16 13:24
ChainCatcher message, Glassnode co-founder Negentropic stated on X: "After the release of yesterday's CPI and retail sales data, the US Dollar Index (DXY) suffered a heavy blow. According to EW-count, this appears to be a 'right shoulder' in a major head and shoulders pattern. More downside potential will support the rebound of risk assets such as BTC and SP500 until late summer."
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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