Crypto’s rise over the past week has been just ridiculous. Bitcoin added thousands and thousands of dollars based on, I suppose, the fact that there’s only one FTX out there to blow up. Crypto dragged ALL other asset classes higher with it.
Mercifully, today, we’re seeing this rally wheeze and gas. Thus, BTC…….
……..and ETH……..
The “knock-off” effects for this diminishment are felt swiftly by any securities dependent upon the crypto-fraud that’s still going on. Here, for instance, is Marathon Digital (MARA) which I specifically cited on yesterday’s tastytrade show. This right triangle top held firm, and then, blammo.
This dragged stocks lower (for the moment). It’s incredible to me, because the horizontal I had drawn for the /ES was hit TO THE PENNY and MUST be broken. Until then, what used to be resistance is now support.
