11.10 Use the rebound to get out
1. U.S. stocks, especially AI stocks, rebounded sharply yesterday. CPI is due tonight, and the rate meeting is in early December. The market has already priced them in, so things can’t get much worse. The past few weeks have all been rebound windows, and BTC may return to the 78,000–79,000 range for one final bull trap.
2. Almost all of BTC’s moving averages are starting to converge. This is a classic sign of a major move ahead. Whether up or down, the move will exceed 40%. I’ve been bearish all along, and ultimately, the price will fall below 49,000.
1. U.S. stocks, especially AI stocks, rebounded sharply yesterday. CPI is due tonight, and the rate meeting is in early December. The market has already priced them in, so things can’t get much worse. The past few weeks have all been rebound windows, and BTC may return to the 78,000–79,000 range for one final bull trap.
2. Almost all of BTC’s moving averages are starting to converge. This is a classic sign of a major move ahead. Whether up or down, the move will exceed 40%. I’ve been bearish all along, and ultimately, the price will fall below 49,000.