The Weekend Crypto Forecast
Weekend of 11/1/24
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Theme Card: The Tower
Well, it looks like we’re getting some big energy this weekend. The Tower always brings either a massive rally or a massive dump. If we get this card from a high, it usually leads to selling. But if we get it during a downtrend, it usually generates a rally that must get sold and retraced.
We’ve seen a mix of both buying and selling pressure this week, but I’d say that overall, we’re still struggling with weakness. Therefore, there’s a decent chance of upside first.
Either way, don’t fight a negative trend this weekend.
Friday Night: Eight of Swords
This card is fairly simple to evaluate. We’re stuck, bound, trapped, blindfolded, and imprisoned by our fears. This leads us to price action that feels quite choppy and boring. Sometimes it can trap a momentum chaser in a losing position.
The good news is we can escape the trap. We just need to walk away. Does this mean walking away from the trade, or into he next move? We’ll find out.
Saturday: Ace of Wands
This could be a finisher coming after an 8, so we’ll need to watch for early continuation. However, any sign of reversal will likely signal a new way forward. AKA, mean reversion.
Aces are impulsive, so we’ll see some big swings. Treat it like a trend card.
Sunday: Queen of Cups
The Queen of Cups usually appears when we need help keeping our emotions in check and struggling through a difficult time. She skews bearish but does offer support. The good news is she often finishes flat or even positive. We may be able to buy the dips here, pending next week’s cards.
Next Week
Crypto draws the Ace of Coin, implying a new financial journey. Look for a rally to fade on Monday. Stocks draw the Knight of Coin, a slow mover that can really build some momentum. Lots of differing energy on the docket for the week, likely because of election day.
More details will be shared this weekend on Substack, X, and Instagram. Follow on social if you haven’t already done so.
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Recap
The Tower either brings us up then down, or just straight down. Either way, careful chasing momentum higher.
That’s it for now. Have a great weekend!