Popular Crypto Analyst Details Potential Dogecoin Rally, Dives Deep Into the US Dollar Index (DXY)

A popular cryptocurrency analyst looks at the US Dollar Index (DXY), a measure of the US dollar’s strength.

Crypto analyst Justin Bennett To tell His 110,500 Twitter followers believe the higher-than-expected US unemployment rate should be bearish for DXY and bullish for cryptocurrencies.

The DXY fell sharply after the unemployment rate beat expectations.

A daily close below 111.80 will be bearish heading into next week (crypto bullish).

let’s see. “

Looking at today’s chart, Bennett To tell His followers say the hourly DXY chart confirms the “fake out.”

“The hourly DXY chart shows a confirmed fakeout early in the session.

But for now it’s still clinging to 111.80.

Bennett get deeper How DXY Levels Affect Crypto-Assets Like Bitcoin (Bitcoin) and Ethereum (ethereum).

“I can’t stress enough how important 109.30 is to DXY next week.

The confluence there is massive.

2022 trend line, descending channel support and key monthly levels.

Close = Expanded Crypto Rally

Bounce positively = crypto pullback.

Finally, traders can use the popular memecoin Dogecoin (Doge) has recently been on the rise due to the acquisition of Twitter by Elon Musk.

If DOGE can reclaim this area, the next step will begin.

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