Our BlocksmithSays BTC Bounce is Unconvincing
➡️ The last few days have seen increased event and announcement volatility. This has led to some scrambled repositioning and we have seen some big moves up and down.
➡️ Also, mid-term election results still lack clarity as many votes are still not counted and there may have been actual fraud in some states.
➡️ Additionally, there was a lower than expected US CPI print (0.4% increase) which caused a kneejerk repositioning: the dollar dumped, stocks rallied.
➡️ This dead cat bounce may lead to more upside near term but the preferred view is back down again once this bounce starts getting exhausted.
this twitter thread.