Every time DXY crosses up inflation line ( ECONOMICS:USIRYY ), it caused big dump on Bitcoin (the momentum is after the announcement of the inflation , see dates in graphic). In October 2020 (crossing happened on nov 12th), this failed because it happened below 50% level which is less significant. Next announcement of the inflation will be on October 13th, hold your horses till then. Because the level of this crossing will be higher than previous ones, probably the dump will be also more significant. It can also be concluded that every time inflation line crosses up DXY , Bitcoin increases and even starts a bull market when this crossing up occurs below 50% level. The expected price level of the big dump is approximately the price level of the last inflation crossing up DXY so $ 11655 or $ 19700 (if you accept October 2020 crossing as significant and that would mean that big dump has been already priced in).
Commentaire:
If you would take RSI in its default settings (14), above mentioned crossing up has already taken place with last inflation figure on September 13th.