Strong Confluence of Short Signals in Sol

31 oct 2023

I think crypto is in general in the top of a bear market rally starting off the FTX bust.

I keep seeing posts talking about how "Bear are saying xxx just like they were at the Nov low".

The Nov low was quite obvious. Bad news. Butterfly spike low.

As a bear, let me assure you it's not only people who missed the low that think crypto is a short now.

It's traded right up into the classic retracement levels a downtrend would suggest.

Big decision area now. If we can get higher, then there's a strong case for buying the retest.

Buying crypto where it currently is, I'd give gamblers odds. Might be lucky, isn't a wise move.

I have bears about 70/30 favourite here for 1:4 or more RR. No brainer fade.