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Eruptions Newsletter 11-30-22

Bitcoin BTC has ranged between $16k and $17.2k with a week-over-week price change of +7.32%.

Price is currently making a move towards the range that was previously lost, and should we regain this level and hold support; this FTX black swan crash could be deemed a simple deviation from the range.

Accumulating Bitcoin at historic lows has once not worked well as an investment, and this time won't be any different.

The S&P 500 continues to show strength as the index challenges major resistance.

We made a prediction that we would rally up to 4000-4100 when the stock market had plummeted down to 3500, at the 200-week moving average (green line).

That prediction has perfectly come to pass, and now the index is attempting to break this resistance.

Should the SPX reclaim the 50-week moving average (red line), things could get majorly bullish in the short term, despite the overwhelming sentiment that we are going much lower.

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