As stated in my earlier post, Bitcoin is entering the buy zone.
This time, I would like to provide some additional insight on Nasdaq composite index and US Dollar currency index .

Nasdaq, while definitely not looking bullish , is already in a state of preparation for a short term bounce.
How high it might go? I would say at least around 12.5k.

On the other hand, the U.S. dollar currency index ( DXY ) is overheated and its meteoric rise is losing momentum. It looks like it’s destined for a correction (at least short term).
How deep? At least between 101 and 102.

Please keep in mind that I’m using the weekly chart, so these moves might take 1-2 weeks to materialize.
In a normal market I would be close to sure about the provided forecast, but since most markets are being affected by external factors lately, I am somewhat cautious – therefore my stance is neutral to cautiously short term bullish .