A strong negative divergence is forming on the $DXY daily chart.
After it's recent (impressive) surge, a US dollar breakdown is IMMINENT... and likely to be triggered by the (dovish) words of Jerome Powell and the (dovish) actions of the FOMC later today.
Why it matters:
A breakdown of the US dollar is NET POSITIVE for risk assets, emerging markets and--you guessed it--#bitcoin.
I wouldn't be surprised if #bitcoin pushes towards $100k by the end of 2024, given the current macroeconomic setup.
Not a bold prediction, just a guess. Let's watch. 🍿
I was honored to receive the following email announcement from BarclayHedge:
"Dear Jeff Ross,
Congratulations!
We are pleased to announce that Vailshire Capital Management LLC has been featured in BarclayHedge's Monthly performance rankings. Vailshire Partners, LP has ranked number 1 in the Multi-Strategy category for September 2024."
Amazingly, this is the fourth time so far in 2024 that Vailshire Partners LP hedge fund has achieved this award:
- March 2024: #1
- May 2024: #1
- July 2024: #1
- September 2024: #1
Shout-out to #Bitcoin for being the primary driver of this performance. ⚡
Just an encouraging message to share with your #tradfi and #macro friends... Not a solicitation to invest.