Regarding the US dollar:

I continue to believe it will be *generally* weaker over the coming 12 months or so... with the $DXY heading sub-100.

However, the recent surge lower has moved the dollar to OVERSOLD levels, and an impressive POSITIVE DIVERGENCE has occurred (see chart below... straight red line and straight green line).

This suggests, to me, that we will see a multi-day or multi-week bounce higher in the US dollar--the strength of which may impede any short-term rallies in risk assets or even #bitcoin.

After the expected bounce higher, hopefully before the end of October 2024, I think that the next #bitcoin bull market (in fiat terms) will begin in earnest.

Just my two sats. Feel free to disregard.

#macro