Cointelegraph’s big bullish pattern in the US dollar index chart puts Bitcoin at risk of losing $ 30,000

Dollar traders have looked closely (DXY) at the constructive pattern of the “reverse heads and shoulders” chart. Meanwhile, the smell of a strong green dollar is weakening (BTC) the upward case, mainly because the flagship cryptocurrency is trying to get the current $ 30,000-35,000 out of the trade.

In detail, the inverse head and shoulders (IH&S) model emerges after the downward trend. It has three consecutive troughs, the middle trough (head) being deeper than the other two (shoulders). Ideally, both shoulders should be the same height and width. All three basins are hung on a price ceiling known as a neck that serves as resistance.