This week's Monday Market Update is live, and it was a notable one. After last week's breakdown, Bitcoin snapped back above the 200 week moving average, and Sam broke down what that reversal means, the signal building underneath it, and where strength is showing. Here's a quick look at the three highlights:
Bitcoin reclaims the 200 week line. A bullish engulfing candle back through the 200 week moving average, and why Sam reads it as a possible bear trap rather than a confirmed bottom.
The bull divergence playing out. Sellers look to be exhausting, and the weekly divergence Sam has been tracking, the same structure seen at the FTX bottom, is now in play.
HYPE, pure strength on the weekly. Why Sam considers this one of the strongest charts in the market, and how he reads that kind of relative strength.
Watch the quick breakdown below for these three highlights.
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