TCrypto markets are in dire straits as the uplegs are unable to respect the immediate resistance zone. The bulls have been consistently trapped as the top cryptos make lower highs and lower lows 24/7. Although many have speculated that the bearish trend will continue, a glimmer of hope is still seen as the DXY Index could soon face trouble.
The strength of the US Dollar, characterized by the DXY Index, has increased over the past two weeks. Hence, the USD is getting stronger compared to the other fiat currencies and also the cryptos. In a recent update, the European Euro (EUR) has fallen to record lows against the USD, falling below $1.
Still, the DXY index’s bullish momentum could soon be challenged by the bears as the index could get closer to a sharp rejection.
A popular analyst, Lark Davis 
Lark Davis host that lark Davis
Lark Davis is a New Zealand-based online content creator who makes films about Bitcoin and cryptocurrency in general. On his YouTube channel, Lark shares tips and recommendations based on his expertise and years of experience as an investor. Growing up on a humble organic farm, he read and fantasized about space travel while pretending to be Indiana Jones.” Lark combines his political science training, critical thinking skills and brilliant sense of humor to create content that embraces blockchain Exploring solutions to the corrupt world Through the Revue platform, he also offers a weekly newsletter called “Wealth Mastery” on a subscription basis for $9.75 per week or $39 per month. Wealth Mastery is a study report aimed at bitcoin investors and includes the following weekly items on the official sign-up page. He also hosts the Kajabi platform to offer the following online courses to help potential new cryptocurrency investors. The webinar is free to attend, but it costs $99 to sign up for the basic course. Although he launched his YouTube channel in October 2009, he only started posting crypto videos regularly in 2017 under the nickname “The Crypto Lark” with 0 followers and has garnered over 51 million views at the time of this writing. It offers bitcoin and altcoin news, interviews with fellow investors, and general cryptocurrency talks. entrepreneurinvestorhost 
Follower : 0 show profile , informed the daily chart of the DXY index, noting the formation of a double top pattern. Interestingly, the index has already been rejected and could therefore head for the neckline around $105. A drop from here can pave the way for cryptos to thrive later.
Conversely, the S&P 500 follows the 2008 crash, follows a similar pattern and is therefore set to fall sharply in the coming days.
Source: Twitter
As seen in the chart above, the current trend mirrors the S&P moves of 2008, which clearly indicate a major bearish trend is imminent. While the DXY Index is at a crucial stage, a notable drop could quash the speculation above.
If the DXY index manages to recover, darker days could be fast approaching. The top cryptos like Bitcoin, Ethereum, etc. could make new lows in 2022 before bouncing back firmly with less bearish influence.
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