As we all know, the $USD has been tanking quite a lot over the past six months, and many are saying it will go even lower. But let us take a deeper look.
Based on price action, the USD has finally come back down to its support area, which is the lower trendline of the parallel channel. Do not be fooled. It is more than just a trendline, it has marked the start of historical USD rallies.
While people are accepting the idea of a continued USD decline, the reality is that the USD still stands as the ultimate hedge for investors. This was evident during the 2011 eurozone debt crisis, the 2014 Fed rate hike, the 2021 post-COVID stimulus, and maybe even now with what I believe could be the next catalyst: a disinflation-triggered rate cut, as the economy cools too fast and the Fed cuts rates to stabilize it.
So, while I am pro-Bitcoin and crypto, this chart is more than enough proof to remind me that, for now, the USD still remains the backbone of global liquidity.
Kazakhstan is jumping in with plans for a state Bitcoin reserve, adding to the growing list of countries waking up to Bitcoin's role as the ultimate strategic asset.
One of many joining the party. It's so bullish for Bitcoin!
New all-time high soon, in my opinion. We are entering the most explosive phase of this Bitcoin cycle. Bitcoin is holding its support very strongly. I think you all know what happens on the fourth touch.
For now, BTC is going to make its fourth attempt and it will break 100%. Get ready for a big run.
All eyes on the current price. The next leg will be higher.
This blue rectangle has acted as the equilibrium zone for Ethereum over the past two months. It shows a crucial price level that serves as both support and resistance.
If ETH returns to this blue area, make sure to buy the dip.