The post Faces Price Slide as DXY Prints Dragonfly Doji, XRP MACD Bearish appeared on BitcoinEthereumNews.com.

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. DXY vs BTC Last week, the Federal Reserve (Fed) delivered its first interest rate rate cut since December, while signaling more easing in the coming months. Yet, despite this dovish move, the dollar index (DXY), which tracks the greenback’s value against major currencies, finished the week with a dragonfly doji on the weekly chart – a classic bullish reversal signal suggesting a USD rally ahead. The dragonfly doji gets its name from its distinctive “T” shape, which resembles the delicate wings of a dragonfly or the blade of a bamboo-copter toy. This pattern forms when the open, high, and close prices are nearly identical, accompanied by a long lower shadow that reflects a sharp price decline quickly reversed by buying pressure. The DXY initially fell on the news of the Fed rate cut, briefly dipping below the July low of 96.37, only to bounce back and end the week largely unchanged at 97.65, supported by resilience in U.S. Treasury yields. The appearance of the dragonfly doji after a notable downtrend and at critical support, as in DXY’s case, suggests an impending bullish shift in the market trend. Traditionally, dollar strength corresponds with weakness in dollar-denominated and broader risk assets, setting an interesting stage for the week ahead. DXY and BTC flash opposing signals. (TradingView/CoinDesk) Bitcoin BTC$114,595.73 mirrored this theme in the week ended Sept. 21, forming an indecisive Doji candle at the critical resistance marked by the trendline from 2017 and 2021 bull market peaks. Given that this Doji appeared at such a significant long-term trendline, it leans more bearish, signaling hesitation among bulls to lead the price action and renewed selling pressure from the key hurdle. On the daily chart, BTC are teasing a move…

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Filed under: News - @ September 22, 2025 5:25 am