A cryptocurrency analyst, EGRAG CRYPTO, has predicted a significant downturn in the U.S. Dollar index (DXY) and a consequent surge in Bitcoin prices in the coming months. In an analysis posted on Twitter, EGRAG projected that the DXY is about to enter a noticeable downtrend, dropping to as low as $93. Supporting this prediction is a confluence of events including an intersection of horizontal support, an upward trend line and the 20 Monthly Moving Average (MMA). These events signify a legitimate rejection of the $105 resistance level.

Historical data further corroborates this projection, with past occurrences of a monthly close below 20 MMA typically followed by a drop to 50 MMA. A downtrend in DXY would, in turn, result in a price rally for Bitcoin, and support the existing bullish sentiment in the crypto markets.

This surge is expected to extend until the midpoint of 2023 and will be followed by a period of "Black Swan" events in the last quarter. This is in line with the current market trend that has seen Bitcoin pullback from its all-time high of $31,035, likely in preparation of the upcoming price rally.

The conclusion of EGRAG's analysis suggests that the DXY will plummet in the coming months, generating a bullish momentum in the crypto markets that is set to continue leading up to the Bitcoin halving. For those interested in taking advantage of the expected price rally, now might be an opportune moment to invest.



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