Two days ago: *everyone* 53k incoming, but it's ok. Didn't happen. Instead we saw a Thanksgiving price surge, which historically is followed by a bloodbath. Check it out yourself. 26.11.2020. History repeats itself. Falling wedge structure still intact, fib levels are clear.
Two possible plays:
1) New Covid mutation is serious, and we see economies shutting down again. This will result in a major sell-off, possible bear market.
2) Covid sitation does not escalate, we rebounce as expected, reach ATH as soon as whales decide it's time.
PS: Most TA suggested that December has been historically the cycle peak month. This time people forget that we had a Covid sell-off already, which MAY have delayed and complicated things. We shall see.
Two possible plays:
1) New Covid mutation is serious, and we see economies shutting down again. This will result in a major sell-off, possible bear market.
2) Covid sitation does not escalate, we rebounce as expected, reach ATH as soon as whales decide it's time.
PS: Most TA suggested that December has been historically the cycle peak month. This time people forget that we had a Covid sell-off already, which MAY have delayed and complicated things. We shall see.