BITCOIN The USD is approaching a level of historic BTC rallies! Bitcoin ( BTCUSD ) turned again lower on the short-term following yesterday's pull-back on the stock markets due to Powell's remarks on a May 50 basis points hike. The long-term outlook however remains intact and is further enhanced by the U.S. Dollar Index ( DXY ), which is approaching a critical Resistance trend-line. As this 1W chart shows, every time the DXY (bottom chart) hits its 5 year Lower Highs trend-line, it gets rejected towards the 90.000 level or lower. At the same time, as the USD is devalued against major currencies, Bitcoin starts an aggressive (parabolic) rally. The last two times it was the 2017 rally and the post COVID crash 2020 rally. As you see, I've drawn BTC's own Higher Lows Zone that acts as a Support since 2017. In fact if we ignore the Black Swan event of the March 2020 COVID crash, we see that the Diverging Higher Lows trend-line offers an absolute Support since 2017 with multiple contact points that sustained the long-term logarithmic uptrend, and is now very close to the current price action. So what's your opinion about this potential rejection of DXY? Will it be enough to start a new parabolic rally on Bitcoin? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------