This chart shows DXY over an equal weighting of gold + silver + crypto. The idea is that these asset classes could potentially replace the dollar in global reserves, thus weakening the dollar. During a downtrend in the dollar starting in March 2020, we see a channel up in the dollar while alternative assets even sell off during the same period. In this ratio chart, a rising wedge is near it's pinnacle, revealing a continuation in the downward trend for DXY and bullishness for metals and crypto. I expect this chart to fall to around 30 before end of 2022. That is, January levels on DXY around 90.
This chart also shows a bullish case for those alternative assets. Gold and silver just completed an inverted head and shoulders pattern and look ready to start a new bull run. Bitcoin just reached a new ATH.
This chart also shows a bullish case for those alternative assets. Gold and silver just completed an inverted head and shoulders pattern and look ready to start a new bull run. Bitcoin just reached a new ATH.
