Bitcoin's inverse correlation with US dollar hits 17-month highs — what's next f

[Markuri33]

Market pundits anticipate the dollar rally to either stall or correct by the end of 2022, benefiting Bitcoin.In addition, the dollar's ability to continue its rally for the rest of 2022 could be hampered by a classic technical pattern.

First spotted by independent market analyst Agres, the DXY's "double top" pattern is partially confirmed due to its two consecutive highs and a common support level of 103.81.

As a rule of technical analysis, the double top pattern could resolve when the price breaks below the support and falls by as much as the structure's maximum height, as shown in the chart below.more