Last week there was a lot of whining and crying about how the Dollar “broke out above the 50-day moving average.”
(Which is of course, monkey business, for anyone who’s back-tested it).
For those of you who are Full Cycle Investors, you went bearish on the Dollar where that chart starts back in June, and you went long Commodities on the other side of it.
You did that because of the inverse correlation table, which of course includes Bitcoin.
You can see the -0.83 inverse correlation on a trending basis (3 months or more) between the Dollar and Bitcoin.
Being long anything against burning bucks (a devaluing dollar) has been a great thing.
Again, we’re not trading moving-monkeys, that’s for Old Wall people.