Early bull market vibes with the price action. Market in disbelief and selling down every single daily pump. I have seen this before in 2020 when there was a large contingent of traders still trapped in the bear market way of doing things. Now, I see the rejection off the bottom of the cloud and I think for the rest of Q4 2023 we continue on an edge to edge trade into the weekly cloud, but expect volatility.
End of Q4 I'm expecting some correction and the top of the cloud to offer some support, then we may see a full bull sooner if the BTC ETF is approved. obv. BTC will run first, but a rising tide.....
End of Q4 I'm expecting some correction and the top of the cloud to offer some support, then we may see a full bull sooner if the BTC ETF is approved. obv. BTC will run first, but a rising tide.....
Comment:
We got a nice washout of leverage yesterday, and broke into the weekly cloud. Next stop is the channel resistance at 2250 so I am positioned for that breakout above the channel. A solid retest of the top of the channel will give another opportunity for positioning long as we work through the cloud. Expecting some resistance in the 3000 range into December.