In our view, the U.S. Dollar is topping.
Livermore analysis shows that a major decline in the U.S. dollar Index is about to begin. Risk reward seems good for the short trade. Figure 1 shows the good setup for the short.
If the dollar does top, we see further momentum in Bitcoin (BTC). On the Coinbase chart of Bitcoin (BTC), a close on the two-day chart above $8,057 could trigger an up move to $10,000.
If Bitcoin (BTC) does gap to $10,000, we can see Binance Coin (BNB) going to $50 (Figure 3). We view Binance Coin (BNB) as a ticket to get in on the crypto upside show.
Bottom Line: We see a positive feedback loop starting everywhere in crypto. If the Dollar goes down, Bitcoin (BTC) can gap higher. If Bitcoin (BTC) gaps higher, alts and Binance Coin (BNB) can also make staggering upside moves.
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