Popular Analyst Predicts Bitcoin (BTC) Rally, Says US Dollar Flashing Signs of Ending Parabolic Surge
A closely followed crypto strategist is calling for a Bitcoin (BTC) surge just as the US dollar index (DXY) is showing signs that its parabolic rally this year could be coming to an end.
In a new strategy session, Jason Pizzino tells his 279,000 YouTube subscribers that the US dollar index won’t stop crashing as it threatens to break a key support area on the high timeframe chart.
Traders keep a close eye on the US dollar index as weakness in the DXY suggests that investors are parting with their dollars to buy risk assets like stocks or crypto.
Says Pizzino,
“[The DXY] is at [104.506], so closes under this level is going to be critical for the US dollar [index]. If it closes under [104.5], [it is] probably looking much, much weaker. It starts to swing the probabilities in the favor of weakening US dollar.”
According to Pizzino, the US dollar may be ending its parabolic rally, similar to what happened in the early…
