The Crypto Market Shows Powerful Resilience - Important Update

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Crypto Total Market Cap Excluding BTC, $ (CRYPTOCAP:TOTAL2)

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CRYPTOCAP:TOTAL2 Crypto Total Market Cap Excluding BTC, $

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A week ago, I made a post explaining why I thought Bitcoin may not go lower. I ultimately ended up being correct, although it did make a brief move down towards $7.3K. Here's that post:

Preparing For The Next Move - Why Bitcoin May Not Go Lower

Thought I'd make a video today due to what just happened in the crypto market. Pretty significant. Where to from here? Leave your thoughts and opinions below : )

I'll probably make a longer written analysis soon but it's the weekend and I want to have a fun Halloween. This is not financial advice.

-Victor Cobra

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Bitcoin is now back in the bearish channel (as I described shouldn't happen in this video, for the bullish scenario). Things are still looking better for bulls than they were last week, but we should be very careful here.

TOTAL is also in the bearish channel again

TOTAL2 looks much more indecisive, with powerful wicks on either side. What we want to see is these candles remain neutral (bulls will need to hold current levels) OR we'll need to break and hold above the bearish channels before weekly close.