Breakout or fakeout?
Volume not ideal for a breakout, but benefit of the doubt to bulls until proven otherwise.
Seeing 100% moves on altcoins is a point to the bulls
Fear and greed stuck at fear is a point to the bulls
However
There's some serious bearish divergence on the $SPX weekly chart, in conjunction with election uncertainty and likely dragged out decision due to mail ballot issues.
Mix in the likelyhood of a second wave of covid once the weather gets cold and its anyone's guess.
As long as stonks stay good and bitcoin stays good we assume breakout.
If we dip back below trendline with some real bear volume then could get more consolidation until the spring.
Cautiously optimistic
Volume not ideal for a breakout, but benefit of the doubt to bulls until proven otherwise.
Seeing 100% moves on altcoins is a point to the bulls
Fear and greed stuck at fear is a point to the bulls
However
There's some serious bearish divergence on the $SPX weekly chart, in conjunction with election uncertainty and likely dragged out decision due to mail ballot issues.
Mix in the likelyhood of a second wave of covid once the weather gets cold and its anyone's guess.
As long as stonks stay good and bitcoin stays good we assume breakout.
If we dip back below trendline with some real bear volume then could get more consolidation until the spring.
Cautiously optimistic