This is a more good selling opportunity here. This breakout will be watched by many. With put/call ratio dropping like a stone today and indicators briefly flashing greed signals, this is most likely a turtle soup breakout.
In addition, there is a lack of volume indicating weak buying volume, this short term rally seems to be stalling already.
Could be making a solid bottom. But the fact that it has made a double top looks like buys are stagnating. beware of potential short term fallout as the greed index recovers without any recovery in price.
Panic and fear as taken over the market. The recent selloff has not even been that brutal compared to some other ones. Fear index hitting 5, its lowest ever level recorded since it began in early 2018. Short term buy signal here
Happening on the major indexes and big tech as well. also observed on bitcoin and many other asset bubbles like the 2000 tech bubble. Seeing this pattern a lot lately, wouldn't be surprised to see it here.
Good short term scalp that will fool many into thinking there will be another impulse wave. Then dump
Time to start closing positions and buying out put options. This is a classic top formation for thee tech bubble 2.0.
For those who missed the big bitcoin short, here is another one.
Everywhere you look stocks are tanking. when the big tech 5 start dropping it will wreak havoc on the indexes.
Altcoins are now in a bear market.
Like small cap stocks when looking at the stock market, altcoins offer a perspective of what is to come for BTC price action. Expect big losses in BTC within 1 to 2 months
Finally all the recession posts of mine a starting to have a reason. cannabis/index shorts and VIX fully loaded into this downturn. The profits are already stunning.
Beware of further stock fallout as investors run for cover in this fake market