Gm guys, well what can you do? Bitcoin still dangling around 75k. Imo this is just an extended test of bull market support 73-76k, and so far that's holding out well. Sentiment finally dipped into extreme fear for both crypto and the stock market, but I think that is mostly an overreaction to the mid-terms, which in the end has no impact on the markets anyway. Stocks set the scene for what happens next week, but while I think there will be further downside on the indicies, I'm not expecting anything too dramatic, in fact I think we are due a bounce and some relief in the short term at least. If the previously stated levels don't hold, major support at 67-69k should be the floor, and that would shift sentiment to its major extremes. The 200 week sma is approaching 68k and rising. Just be patient here, no one ever said wave 2 was going to be easy, but a macro higher low here would typically be a major bull market confirmation and unlock for serious capital to start rotating into crypto and out along the risk curve. Just some quick thoughts, enjoy your weekend.
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