There’s basically no technical analysis left now. Until we get back above 771 and see a 4-hour candle close there, we can’t even confirm that the sell-off has stopped.
Saturday and Sunday’s price action doesn’t count. Any recovery now could be dragged back down by the news on Monday. The Democrats have been accumulating “resentment” for years, and it probably won’t all be vented in a day or two.
Halting further development of data centers and AI really does feel like “turning back the clock.” We know this script well. Back when China was still “the center of the world” for cryptocurrency and blockchain, we had this kind of all-or-nothing policy too. That’s when we lost our leading position—and we’ve never been able to get it back. If they call a halt now, they don’t even need to keep it up for long—just until after the 2028 election—and they’ll probably have a hard time catching up with homegrown AI. So, you see, every country has its share of dumbass politicians···
All we can do now is watch. The nearest resistance is at 763–766; there’s no floor below that. Potential support is at 755–752. If you’re completely out of the market, you can wait until Monday, see what the news brings, and decide whether to start dollar-cost averaging in little by little. I said before that we’d get a rebound of at least 5,000 points, and we’ve already had it. It’s November 7 now. Under normal circumstances, there should be one or more rebounds between now and the end of December, probably around 5,000 points each. But there’s no way to predict what price they’ll start from or when they’ll happen.
It’s the weekend. No matter how rough things feel, take some time to rest. Markets, like life, have their ups and downs. They won’t keep going downhill forever; things will get better.
There’s a line from League of Legends that I’ve always liked.
You don’t keep going because you have hope.
It’s by keeping going that you find hope.
Saturday and Sunday’s price action doesn’t count. Any recovery now could be dragged back down by the news on Monday. The Democrats have been accumulating “resentment” for years, and it probably won’t all be vented in a day or two.
Halting further development of data centers and AI really does feel like “turning back the clock.” We know this script well. Back when China was still “the center of the world” for cryptocurrency and blockchain, we had this kind of all-or-nothing policy too. That’s when we lost our leading position—and we’ve never been able to get it back. If they call a halt now, they don’t even need to keep it up for long—just until after the 2028 election—and they’ll probably have a hard time catching up with homegrown AI. So, you see, every country has its share of dumbass politicians···
All we can do now is watch. The nearest resistance is at 763–766; there’s no floor below that. Potential support is at 755–752. If you’re completely out of the market, you can wait until Monday, see what the news brings, and decide whether to start dollar-cost averaging in little by little. I said before that we’d get a rebound of at least 5,000 points, and we’ve already had it. It’s November 7 now. Under normal circumstances, there should be one or more rebounds between now and the end of December, probably around 5,000 points each. But there’s no way to predict what price they’ll start from or when they’ll happen.
It’s the weekend. No matter how rough things feel, take some time to rest. Markets, like life, have their ups and downs. They won’t keep going downhill forever; things will get better.
There’s a line from League of Legends that I’ve always liked.
You don’t keep going because you have hope.
It’s by keeping going that you find hope.
