DXY and the BTC monthly correction. Is BTC wave A in?
BTC is currently in a larger time frame (monthly) correction where we can expect an ABC move.
many traders are looking for the wave A to be in forming a potential bottom expecting a wave B relief rally.
as long as DXY is in its current impulsive move, i don't expect that this will happen. so, BTC A is not in yet.
the white 4 will be our timing for the BTC B. since the white 1-2 is deep we can expect the white 4 to be shallow.
in this case i would not expect a larger BTC B move.
many traders are looking for the wave A to be in forming a potential bottom expecting a wave B relief rally.
as long as DXY is in its current impulsive move, i don't expect that this will happen. so, BTC A is not in yet.
the white 4 will be our timing for the BTC B. since the white 1-2 is deep we can expect the white 4 to be shallow.
in this case i would not expect a larger BTC B move.