$BTC chip stocks went crazy, and BTC finally joined in, briefly climbing above 74,000 for the first time
The premarket rebound I mentioned this morning fully played out by the close.
Micron rose about 12.8%, SanDisk about 15.5%, CoreWeave about 23.6%, and Nvidia about 4.1%.
The Nasdaq gained about 1.9%, the S&P 500 about 1.4%. For the first time in days, U.S. stocks and crypto rose together.
BTC is now around 74,200, with a 24-hour high of 74,710 and a low of 73,110. It finally broke through the 74,000 ceiling of this range.
ETH is around 2,074 and SOL around 84.5; both have also moved higher.
Don't rush to call it a breakout—the confirmation isn't there yet.
The 4-hour candle at 16:00 closed at 73,917, below 74,000.
The current 4-hour candle closes at 3 p.m. ET. It only counts if it closes above 74,000.
Here's my plan.
If it closes above 74,000: the short plan for the hotter-CPI scenario is off the table; first, watch the 75,000 ceiling.
If it closes back below 74,000: the range-bound chop continues. If it breaks below 73,477, then watch TP2 at 72,000.
Half of the position at TP1, around 73,176, has already been closed. The stop-loss on the remaining half is still around breakeven.
There are no major data releases tonight. The next catalyst is Friday's October PPI.
Do you think this 4-hour candle can close above 74,000?
Personal opinion only; not investment advice. Follow me for my first take after the close.
The premarket rebound I mentioned this morning fully played out by the close.
Micron rose about 12.8%, SanDisk about 15.5%, CoreWeave about 23.6%, and Nvidia about 4.1%.
The Nasdaq gained about 1.9%, the S&P 500 about 1.4%. For the first time in days, U.S. stocks and crypto rose together.
BTC is now around 74,200, with a 24-hour high of 74,710 and a low of 73,110. It finally broke through the 74,000 ceiling of this range.
ETH is around 2,074 and SOL around 84.5; both have also moved higher.
Don't rush to call it a breakout—the confirmation isn't there yet.
The 4-hour candle at 16:00 closed at 73,917, below 74,000.
The current 4-hour candle closes at 3 p.m. ET. It only counts if it closes above 74,000.
Here's my plan.
If it closes above 74,000: the short plan for the hotter-CPI scenario is off the table; first, watch the 75,000 ceiling.
If it closes back below 74,000: the range-bound chop continues. If it breaks below 73,477, then watch TP2 at 72,000.
Half of the position at TP1, around 73,176, has already been closed. The stop-loss on the remaining half is still around breakeven.
There are no major data releases tonight. The next catalyst is Friday's October PPI.
Do you think this 4-hour candle can close above 74,000?
Personal opinion only; not investment advice. Follow me for my first take after the close.
