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The United States dollar index (DXY) which has been in a strong uptrend for the past several weeks is showing signs of topping out. This bodes well for risky assets as they move in inverse correlation to the DXY. Investors seem to believe that inflation may have peaked and the Federal Reserve may slow down its aggressive pace of rate hikes after the September meeting.

Credit Suisse chief US equity strategist Jonathan Golub said while speaking to CNBC that inflation is likely to “collapse” over the next 12 to 18 months. Reduced gas prices at the gas station and a decline in food prices are showing early signs that inflation may be headed southward. If that happens, Golub expects the Fed to signal a pause with their rate hikes over the next four to six months, triggering a strong market rally.

Bitcoin behaved the way we had projected in the previous analysis. It broke below $19,500 on September 6 and reached the $18,600 to $17,567.45 support zone on September 7.

This zone attracted strong buying as we had expected and the BTC/USD pair turned up from $18,527 on September 7. The bulls pushed the price above the overhead resistance of $20,715 on September 9 and propelled the pair to the 50-day simple moving average (SMA).

The 20-day exponential moving average (EMA) has started to turn up and the relative strength index (RSI) has jumped into positive territory. This suggests that bulls have the upper hand.

If buyers sustain the price above the 50-day SMA for two more days, the possibility of a rally to the overhead resistance at $25,000 increases. The bulls will have to clear this hurdle to signal the start of a new uptrend. To invalidate this positive view, the bears will have to sink the price back below the moving averages. If they succeed, the pair could again drop to the $18,600 to $17,567.45 support zone

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

Featuring in this weeks Edition:

- XRPayNet

- Manilla Finance

- Gauss

- Medabots

- MetaFrames

- Cardalonia

- Age of Zalmoxis

- indu4.0

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Rise of the GameFi economy

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