A special Monday Update as both Bitcoin and the QQQ are in the midst of retracing from last weeks respective declines. Especially if stopped out of option positions, the charts below offer some guidance as to where to enter for the next legs down, i.e., BTC below $62K; QQQ below 710; NVDA below $204. BTC 2-Day (Big Picture) Next leg down starts on a break below $60K, which should take Bitcoin to at a minimum $50K in the next few days-to-weeks. Ultimately, $40K or lower. BTC Daily QQQ 240 By now, these marked-up charts should be self-explanatory. Here, we see big picture as well as a short-term projection approximating where a second wave retracement, currently in progress, will terminate and reverse, i.e., between QQQ 721 and 732. That would also imply that a 3rd wave is on deck, with intermediate term targeting mid-600's, minimum. NVDA 240 Minute A shallow retracement for NVDA so far, suggesting a break below 200 coming sooner rather than later.
