US Dollar Is Dictating Bitcoin (BTC) Price?! – Crypto Trading & Cryptocurrency News

Oh what is going on ladies and gentlemen crypto Kirby here your cryptocurrency expert back with another edition of the daily livestream what is going on my friends today I'd like to discuss Bitcoin and the relationship between the US dollar right now that is actually playing into the price action here in Bitcoin and I believe maybe being overlooked by many traders and analysts in the space so I'd like to cover this today there's a lot of turmoil across global markets here we have the commodities also getting crushed such as gold and silver along with sugar coffee and other commodities across the board so there's a whole correlation here guys with the global markets the currency crisis in Turkey along with the US dollars price action and it is in my opinion all playing into the price of Bitcoin so you guys already know the deal if you like these daily crypto videos and nightly live streams smack that thumbs up button click to subscribe tick the little bell and let's get this crypto moon the likes ladies and gentlemen moon them up but first let's begin with our Bitcoin technical analysis now guys on the one-day chart here we still appear to be in this critical equilibrium zone right the magnet zone all throughout here that we have found consolidation now we are testing up into the top of this channel here on the daily chart and we are now finding consolidation within that range definitely good for the bullish perspective although I still am totally leaning towards a bearish bias here as I do believe as you can see outlined here that we do appear to still be in play for a potential massive Bear Flag on the one day even right and here guys we are in what appears to be a rising wedge formation as well so my outlook on Bitcoin in the short term ladies and gentlemen is definitely still bearish overall although we can now look to see potential further upside from the Bulls here if we can test the top of this channel at about 68 50 flush breakthrough and get up potentially to the prior resistance level here at about 70 200 270 250 that would be my short-term profit taking target for Bitcoin of course guys this is not investment advice always do your own research in your own due diligence before trading or investing as these markets are incredibly incredibly high-risk now furthermore than that guys along with the Bitcoin technical analysis here we are seeing volume be very poor right now if we go into the four hour there has not been all too much to be thrilled about here in terms of volume with the price action it is nice though to see that we are consolidating up in the top channel here coming off of this manipulation over here we tested back down bounced off the EMAs and are now really looking to ride around and test the waters inside this channel which is certainly nice in my opinion shoutout to my VIPs I have outlined some potential plays that I'm looking to take with a flush break of this zone or a flush breakdown out of this zone I will be playing this aggressively and of course I keep my VIPs updated in absolute real-time with all my personal entries exits targets positions etc on the Bitcoin and altcoins market let's get this crypto now let's get into the US dollar here guys alright let's discuss the the big elephant in the room right now with this this news from this week guys we had the Fed come out and say that they're going to be raising the interest rates right Powell said gradual interest rate hikes remain appropriate and that there was no risk to the economy overheating but also that he was prepared to do quote-unquote whatever it takes end quote to prevent inflation from becoming unanchored in either direction now with this news guys that the interest rates are set to hike we have seen the usdollar here if we go over to the DXY that is a dollar index that compares the US dollar versus many other world currencies this is my favorite index to look at um we can see here that clearly this news guys has tanked the the dollar right although the dollar has been on a very bullish uptrend short term we have begin to take a little bit of a dip here following that news and in in many ways guys the the world currencies are just like Bitcoin in the cryptocurrency market right there is there's FUD right there's there's bearish news and there's bullish news and this happened to be news that tanked the price now I want to point out something to you guys that's that may not be on everybody's radar right so this news came out and we began our decline here on August 16th right that is when we started this dip here now I want to go back over to the Bitcoin chart and show you guys the relationship from August 16th to where we stand now let me take this price range out of here clean this chart up just a second so we can see this better all right so let's go over to August 16th right and if you see from August 16th till now Bitcoin has been on a very nice rise especially compared to the prior action as the dollar was ripping upwards right now soon as the dollar starts to rip downwards we see big coin ripping upwards we actually went from the bottom of the channel at about 60 6100 all the way at one point with the manipulation of course to almost 69 hundred and now today still testing up towards 6700 again and really even going into the 6700 s so let's go back to this chart for just a second guys now as you can see here right Bitcoin has been very performing very very poorly throughout this entire uptrend on the US dollar and now you see when there's a pull back here in the US dollar that Bitcoin has performed nicely and inversely with this so there is certainly a very very blatant inverse correlation here with Bitcoin and the US dollar now this is also true for gold and other commodities across the board right guys look at this right here where's the date August 16th again right this is the date ladies and gentlemen August 16th started that FUD in the US dollar and that interest rates were going to go up and what do you know after a huge huge fall-off in gold price we get a reversal and the bottom goes in just like how the bottom went in on Bitcoin on August 16th this is all directly correlated with the US dollar and the interest rate rate spikes excuse me I'm getting tongue-tied the interest rates hiking up ha ha that's funny but anyway so you could see that here that this is directly correlating now what what we need to pay attention to guys is that the US dollar although it is tanking right now we certainly still are on a bullish trajectory and that also can be exemplified here by the Golden Cross on the EMAs that we got on what's the exact date June 6th we had our EMA golden cross here and we are now finding support bouncing off the EMA one two and now three times we are finding support along that line which is definitely very bullish in my opinion we also have an article here that saying despite the the drop off here you could see that the Golden Cross is playing as support and should be bullish moving forward I happen to certainly agree with that sentiment and believe it or not I mean this is actually very bearish for Bitcoin because as we've come to see now that the correlation between Bitcoin in the US dollar is inverse right and I've done videos on this before ladies and gentlemen where the entire I've shown the entire run 2017 was incredibly bearish for the US dollar it was an absolute bear market I mean look at this I mean it doesn't get more bearish than that I mean that is absolutely crazy bearish right and if you look at Bitcoin 2017 for Bitcoin was literally just the opposite I mean literally the the inverse correlation could not be any more profound or blatant in the charts and if we are looking at at the US dollar here and we're identifying that we are still in what appears to be a parabolic bullish uptrend finding support on the EMAs getting our Golden Cross here on June the 6th and we are continuing to rise and bounce along here with the RSI also being nowhere near overbought or oversold territory right in neutral ground with a lot of room to move upwards in on the daily here we are definitely looking at what could be more bearish sentiment for Bitcoin because although we are on a short term downturn here you can see that the overall trend is still pointing on an upward trajectory now like I showed you with gold and silver gasm I didn't go to silver but you'll see that it's it's very much the same here that right on this date again the magical August 16th the price rebounds off of a bottom right it's not as profound as gold but you definitely see that the bottom was put in and we are now moving up creating higher lows right so this has happened across the board in commodities and why that happens ladies and gentlemen is that commodities such as gold silver Bitcoin these are hedges against the debt right and hedges against falling dollars falling US currency falling world currencies and this type of inverse correlation is actually what drives most of the markets yes there is certainly speculation in the Bitcoin market it's nearly all speculation but there are respected trends to other world currencies and commodities right and with this Turkish lira starting to really cause a lot of turmoil you know this article suggesting there could be a global financial crisis coming from this from the ripple effect falling off of this you know this crisis here what we could be in for ladies and gentlemen is that the dollar is going to be in for a rally if emerging markets are starting to fall into a very weird spiral here because like I said it's not just Turkey turkey could be the starting point and the ripple effect to to start the dominoes falling for other emerging markets which should in theory cause the u.s. dollar to get some pressure on it and potentially keep the bull market intact there for it so we need to watch out there ladies and gentlemen now before we continue guys if you haven't already don't forget to moon up the likes moon them up smash those thumbs click the subscribe button take the little bell let's get this crypto now this this article here is showing the correlation between the US dollar the stock market and the commodities right and it's showing where we are right now if you see on this chart we are at crazy lows here in 2018 on commodities and like I mentioned guys again most most crypto traders a lot of a lot of them lose perspective of what bitcoin actually is right and at its core bitcoin is certainly a commodity it's a supply and demand asset it's it's limited in quantity it's a hedge against the debt and the financial system and when the price is rising it's because there's a demand for it and not enough supply thus pushing the price higher right when there's not a large demand for it the price does not have to rise right and and that is the explanation of the inverse correlation between the US dollar and the parabolic rise of Bitcoin in 2017 of course speculation also does play a huge role in here but the reason that speculation in 2017 on this commodity was so high is because people needed to get out of the US dollar and speculate on a supply and demand asset that was yielding more return than their falling value in the US dollar that is that is exactly what we saw ladies and gentlemen and that is exactly why we continue to see a bear market in Bitcoin throughout 2018 as the US dollar continues this parabolic uptrend and we can cent continue on a small timeframe scale to see that in the exact week that the US dollar has began to tank is the exact week that Bitcoin has found a rebound from the bottom of this bottom channel and has now looked to test the top of the channel even getting to our first high in a month although many will say that this was manipulation and I do have to agree with them manipulation aside we have rebounded once again and are now in the top Channel and this is all beginning with the news on the 16th that brought us from this bottom channel all the way up to the top with a direct inverse correlation between Bitcoin and the US dollar ladies and gentlemen if you are just tuning in now if you could moon up those likes moon them up smash those thumbs click the subscribe button take the little bell let's get this crypto and guys I do just want to cover just because it's so relevant right the thing is here with gold we are looking at a sustained pretty much bear market in gold right now and it's a supply and demand commodity which this to me is is nearly the exact same as Bitcoin right it's of course the real gold and we look at Bitcoin as digital gold so this article goes on to talk a lot about about gold right but what we really want to look at here is that this analyst her perspective is that if gold goes down below 1140 dollars per ounce in August on the monthly candle close it would force her to capitulate and the reason that I want to show this is because I believe that we could be in for similar action here with Bitcoin if in fact the US dollar continues to rally bounce off those EMA's let's pull up the monthly candles here I'll actually go to the coin base chart which is cleaner for me I do not have much drawn there let's get rid of these lines and let's look at what's going on here all right so what we're seeing here now guys is that if the monthly close on Bitcoin is not going to be able to surpass last month's high I mean it is certainly a continuation of a bear market right and for us here that would be a break we'd need to break 8,500 personally I don't see that right now ladies and gentlemen as I did outline earlier in the stream that just to get to 7,200 should be a pretty tough task let alone to break that resistance I would assume that we would have somewhat of a pullback at that point if it were to come like I said guys I will be keeping my VIPs updated in absolute real-time to the second with all of my trades my positions my entries my targets my insights everything guys so shout out to all my VIPs absolutely love you guys and I'll see you there but being said guys as long as this dollar continues to rise which I mean although we do have short-term bearish news for the US dollar longer-term it seems like the dollar with the technical analysis and the emerging market crisis that you know can start to domino effect it is very bullish for the US dollar in terms of pressure upwards when other currencies need to be stable inside the world reserve currency which is the US dollar and if you guys look here right it's all of 2018 we've been in a pretty bullish market I mean it's a crazy direct correlation I mean 2017 was the year of cryptocurrency 2018 is the year of the US dollar and the correlation between the two could not be any larger I mean literally guys this was 2017 for the u.s. dollar I mean crypto currencies were the exact opposite and now 2018 this is the US dollar these are monthly candles and cryptocurrency is the exact opposite is it absolutely wild right so keep this all in mind guys where we're seeing lows across the commodities market like like never before this article outlines that sugar and coffee fall to decade lows and this is just what it is guys we we play in a very volatile market that is why knowing how to short the market as well as long is very important for Bitcoin if you are in fact a traitor because just longing Bitcoin in a bear market is not a very strategic way to to profit ladies and gentlemen there's opportunity here up and down right and that is what I preached to my VIPs I don't care if the market is going up I don't care if it's going down I'm going along or I'm going to short based upon what the chart is telling me where my high probability low-risk scenarios are to profit like a savage where my bankroll management is going to put me in position to crush this market Emma's cookies and a bottle of yo-ho-ho ladies and gentlemen let's get this crypto I'm fired up today and and you should be too as this is a metric that we all need to be observing and the reason I'm putting this on your radar is because as this continues to happen with the dollar and the correlation between the two are in fact nearly identical in the correlation we also should be monitoring this u.s. dollar chart in addition to the technical analysis of Bitcoin and the fundamental analysis of Bitcoin we should be watching what's going on with the dollar like a hawk keeping our eye on the news that's coming out for the fundamentals behind the US dollar strength following what's going on here in the emerging markets for the effect it's going to have potentially on the dollar which in fact if history continues to repeat itself should have a direct inverse correlation with bitcoins price action combining all of these together ladies and gentlemen but I don't ask for this often but if you want to enlighten other traders and your other friends in crypto I recommend sharing this video with them as this is something that needs to be on everybody's radar and I think that today is a great day to do just that so being said guys if you could one last time moon up the likes moon them up smash those thumbs click the subscribe button tick the little bell let's get this crypto I will be in VIP for the remainder of the evening the weekend the week I'm expecting a large move here in Bitcoin ladies and gentlemen like I've said time and time again the proverbial powder keg here for Bitcoin I believe we're gonna see a drastic move to the upside for that potential at seventy two hundred or a potential move crazy to the downside with what could potentially be the Bear Flag of all bear flags here ladies and gentlemen I will be keeping my VIPs updated in absolute real-time with my personal entries exits targets trades stop losses everything like that guys don't take that trip to wreck city you do not want to be going there and let's get this crypto so until next time my friends be safe be happy be healthy it's your boy Krypto Kerby peace and love my friends curbs you

24 thoughts on “US Dollar Is Dictating Bitcoin (BTC) Price?! – Crypto Trading & Cryptocurrency News”

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  2. Can you please point me to the video you you previously made regarding the US dollars inverse correlation to Bitcoin and other commodities thanks

  3. Top man!! I’m glad you covered this inverse correlation with the $ and bitcoin and other commodity assets a flight to safety when the dollar looses its appeal. Great content brother.

  4. The kirbster dropping knowledge and trading insights many others are afraid to talk about.. moon up the likes people

  5. Kirby, what are your thoughts on the likely hood that the CBOE ETF gets approved next month? Seems like a massive piece of news that would essentially nullify anything we see on the TA.

  6. Don't think we have to wait much longer countrys are going under hypo inflation every where mass adoption of block chain and bit at a bergain price peace every one

  7. The elites has been shifting assets into gold since 2016, guys. Read Lord Rothschild's reports, and so on. There is great concern for currency that has already been printed. Petro Yuan may send all those dollars home to roost, and then prices will sky-rocket.

  8. How do you know that BTC/USD relationship is correlation and not causality? I'm curious to see if the same trend holds for other BTC bull runs.

  9. BUT KIRBY !!! isn't it obvious that USD & BTC are inversely proportional to each other since they are traded against each other.

  10. Do you think I should hold on to my ether for the long run , the way I’m going to hold on to my btc until it’s over 100k? Or is ether going to be worthless some day?

  11. Smashed the like. I respect and like your content. Especially the riskreward zones. I just verified against a monthly chart that there is now an inverse correlation of 0.8 (DXY vs BTCUSD). This means when DXY moves up, dollars will be drained from other markets like crypto. The correlation changes when the pump fase is nearly over: squeezed momentums of SMA's of DPO values are at negative lows. Historically there were at least 2 periods when BTC and DXY pumped in same period. If the FED raises the interest rate in the coming years and the buybacks of stocks are being dumped to pay debts, then markets will react upon that change.

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