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https://chrisdunn.com/communityIn this video, we dive into the recent massive short squeeze in the stock market, analyzing its implications and potential future impacts on stocks, cryptocurrencies, and possibly the broader economy.
We examine the S&P 500 chart, discussing its critical 'do or die' zone, and explaining why, based on technical indicators like the 100 and 200 period moving averages, we might be re-entering a bull market.
Contrary to mainstream media's recession narrative, I point out the strong price action in the market, buoyed by new inflation data and Federal Reserve rate expectations.
We also explore the correlation between the stock market and Bitcoin, highlighting Bitcoin's recent gains and pondering its potential to catch up with the stock market, particularly considering the upcoming Bitcoin halving. I analyze the FANG+ index and its notable cup and handle formation, indicating strong performance by major tech stocks.
Then we dive into the broader cryptocurrency market, focusing on altcoins. Using the TOTAL3 chart, which excludes Bitcoin and Ethereum, I assess the signs of an upcoming alt season and the challenges posed by regulatory actions and public perception. I share insights from a range of charts, including Ethereum, and discuss the performance of other large-cap cryptos like Solana, as well as my watchlist of cryptos showing strength relative to Bitcoin.
I touch upon the NFT market, sharing my views on its potential, particularly in gaming NFTs.
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#bitcoin
#altcoins
#cryptocurrency
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- I'm not a financial advisor, attorney, or tax professional, and nothing I say is meant to be a recommendation to buy or sell any financial instrument. Do your own due diligence, and take 100% responsibility for your financial decisions.
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https://chrisdunn.com/impersonators- Trading and investing are risky! Don't invest money you can't afford to lose, because many traders and investors lose money. There are no guarantees or certainties in trading.
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