Glassnode co-founder: The downside potential of the US dollar index will boost the rebound of risk assets BTC and SP500 until the end of summer

2024-05-16 20:50:08

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ChainCatcher message, Glassnode co-founder Negentropic stated on X: "After the release of yesterday's CPI and retail sales data, the Dollar Index (DXY) was severely impacted. According to the EW-count, this looks like the 'right shoulder' of a major head and shoulders pattern. More downside potential will fuel the rebound of risk assets BTC and SP500 until the end of summer."

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