🐻 Bears, are you here? 👋

⬇️ I’ve prepared a super simple chart of the Total Crypto Market Cap on the weekly timeframe.

📊 Just two indicators:

1️⃣ The 90-day Moving Average (90MA), from which all local uptrends over the past 2 years have started.

2️⃣ Stoch RSI, which is sitting at the bottom - the same area where bullish moves in the crypto market previously began.

🤔 Now the question.

If over the last 2 months the crypto market has dropped by -36%, losing a total of $1.5 trillion in MC (also fueled by the black swan event on October 10), what exactly are you basing your arrows to $40k on today - especially when just a month or two ago you were calling for multiple x’s? What has fundamentally changed? 😅