Pre-Summary
Bitcoin is pressing higher while the Dollar remains strong. Their subsequent price behavior may be worth watching.
Bitcoin continues to behave bullishly. After rallying out of its Day 45 right translated DCL, Bitcoin consolidated its advance while remaining above the 10-day MA. Bitcoin is now pressing against the recent high.
At the same time, the Dollar continues to advance out of its Day 13 DCL. The Dollar remains in a Daily uptrend and is testing the 102 area. For now, both markets remain strong.
But with Bitcoin pressing higher as the Dollar approaches an important area of resistance, their subsequent price behavior bears watching.
Is Bitcoin the canary? — Stay tuned …
Cycle Alignment
Bitcoin: Daily uptrend; pressing against the recent high with bullish momentum.
Dollar: Daily uptrend; testing the 102 area.
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