{"id":151943,"date":"2026-10-19T09:18:03","date_gmt":"2026-10-19T09:18:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=151943"},"modified":"2026-10-19T09:18:03","modified_gmt":"2026-10-19T09:18:03","slug":"analyst-dismisses-market-panic-bitcoins-breakout-and-retest-signal-all-is-well","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=151943","title":{"rendered":"Analyst Dismisses Market Panic: Bitcoin\u2019s Breakout and Retest Signal All Is Well"},"content":{"rendered":"
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Crypto analyst Sykodelic posted on X early Monday that Bitcoin\u2019s daily chart shows a breakout and retest of its previous high and its 50 EMA, a moving-average trend line, and told jittery traders to relax.<\/p>\n

The post lands as \u201cBlack Monday\u201d crash calls circulate online while US stock futures point higher.<\/p>\n

Bitcoin Chart Breakout Meets Black Monday Fears<\/h2>\n

In the October 19 post, Sykodelic wrote<\/a> that \u201cthe timeline has been in the depths of despair\u201d even as Bitcoin\u2019s daily chart appeared to show \u201ca breakout and retest of the previous high, and 50 EMA.\u201d<\/p>\n

The trader called the bearish mood \u201cemotional and irrational\u201d and added:<\/p>\n

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\u201cThere are definitely times to be cautious of price action. But at this time, with this move, this is not one of them.\u201d<\/p>\n<\/blockquote>\n

Ash Crypto struck<\/a> a similar note around the same time:<\/p>\n

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\u201cIf people are calling for a Black Monday, it probably won\u2019t happen.\u201d<\/p>\n<\/blockquote>\n

Markets rarely move the way everyone expects, the account added, pointing out that fear is a poor basis for decisions. Hours into the supposed crash, the Kobeissi Letter pointed<\/a> to Nasdaq 100 futures up nearly 1% and an S&P 500 set to add $350 billion in market cap at the open. \u201cThis aged well,\u201d it wrote.<\/p>\n

Meanwhile, at the time of writing, Bitcoin was recovering toward $83,000 after also gaining 1% in 24 hours, although it was down by the same percentage across seven days, with its share of the total crypto market value at over 58% in a market worth about $2.83 trillion, per CoinGecko.<\/p>\n

Ethereum, around $2,400, is down 4.6% since last Monday, and other large altcoins have fared worse, including XRP, which, at $1.31, has lost almost 7% in seven days, while Solana, near $106, has dropped by more than 5% in the last week. Monero stands out with an 11% gain in the same period.<\/p>\n

Recent Losses Explain the Nervous Mood<\/h2>\n

Sykodelic\u2019s optimism comes after a difficult week for crypto. As CryptoPotato<\/em> reported yesterday, Bitcoin briefly fell from around $81,600 to $80,750 during a weekend flash crash before recovering<\/a>, while ETH and AI-linked stock perpetuals also dropped<\/a> and rebounded.<\/p>\n

Inflation data had already weighed on prices, with September consumer inflation coming in slightly above expectations, and producer prices posted their largest monthly increase in more than four years. Bitcoin briefly slipped<\/a> below $80,000, its first dip under that level in about a month, before recovering.<\/p>\n

The Kobeissi Letter, in an October 15 analysis, described<\/a> a \u201cstealth\u201d bear market beneath the S&P 500\u2019s headline performance, claiming 84% of its constituents were at least 10% below their highs and that just 10 stocks accounted for 70% of the index\u2019s gain since March 30.<\/p>\n

The post Analyst Dismisses Market Panic: Bitcoin\u2019s Breakout and Retest Signal All Is Well<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Sykodelic posted on X early Monday that Bitcoin\u2019s daily chart shows a breakout and retest of its previous high and its 50 EMA, a moving-average trend line, and told jittery traders to relax. The post lands as \u201cBlack Monday\u201d crash calls circulate online while US stock futures point higher. Bitcoin Chart Breakout Meets […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-151943","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/151943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=151943"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/151943\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=151943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=151943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=151943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}