I don't believe this is the bottom of the crypto bear market but there is a strong case for a bullish move up to flush out shorts before the final big down move probably starting mid December as Traders start to liquidate losing positions before the end of the year for tax reasons. Target #1 17400 target #2 17800
This could be an infamous dead cat bounce but if history rhymes then we should see everyone start talking about TSLA towards earnings and media coverage means meme stock action that defies fundamentals. Bears are in a lot of profit and market makers may be ready pull it up towards the longer term MAs real quick to screw both calls and puts expiring this...
SPY oversold and took TSLA along with it, now we we could see a bounce like the previous ones to 225+, main reason being put options expiring this Friday that people will close positions on as it reached the bottom of the Bollinger bands.
Ended last scalp at 19550 now looking like BTC will turn bearish. The BNB hack may have been the black swan event that pushes this back down as it'll bring bad press for crypto. Will look at the support levels in the next couple of days for possible reflied swings.
The 1H is showing a bullish signal and the 4h printed green candles so next couple hours should be good for a scalp, maybe 19650 or higher.
Double top pattern on the 1h showing bearish return to under 1900 probably tonight.
Looking like a classic pattern for a ride up short term over the next couple of hours.
BTC hit target of 19500 this morning and exhausted the RSI. Technically oversold at the moment and this will probably make for a quick weekend bull trap before the real bearish move down to 16k BTC
Headed back towards middle of channel for resistance after EMA cross. Good for quick scalp.
The Cheat Sheet of the stock market + memestock cycle has this heading towards $33 and below if it breaks that support. Carvana still having issues with titling in multiple states and more states banning them makes for bear case short term.