By JCRoemer | JCR's Crypto Musings | 24 May 2021
As crypto climbs out of its crash, all eyes are on the USD's weakening position. Note that on the Weekly MACD there is a bearish cross as the USD breaks down below 90. With the dollar weakening, risk assets tend to rally and that includes crypto. Bitcoin, supposedly a hedge against inflation, just happens to be trading below its 200 day moving average at the same time. Watch the DXY. Bearish moves drive capital into risk assets. Bitcoin's great test may be just around the corner.
How do you rate this article?
4
Baltimore bred and spread. Egg custard with marshmallow. Pan-fried crab cakes. JO not Old Bay. Peppermint in lemon. Grape jam on scrapple. Ketchup on your eggs.
A collections of thoughts, ideas, and analysis of various crypto projects. Opinions are my own. Not financial advice.
Send a $0.01 microtip in crypto to the author, and earn yourself as you read!
% to author / 80% to me.
20 hours ago
2 minute read
5 hours ago
3 minute read
