The upcoming earnings for NVIDIA (NVDA) is a critical market catalyst, with its current bearish chart suggesting caution ahead of the report. For Bitcoin (BTC), the primary trend is down, and any relief rally towards $100,000 is viewed as a potential shorting opportunity with a downside target of $85,000. Precious metals also present bearish setups, with key resistance for short entries on Silver (XAG/USD) near $52, targeting the $30 region. A high-conviction short trade is on MicroStrategy (MSTR), with a long-term price target as low as the $60-$70 range. While most altcoins are extremely weak, a bounce in Solana (SOL) to the $156 level could offer another selling opportunity.

NVIDIA (NVDA)

• The speaker highlights that NVIDIA's upcoming earnings report is a massive event that will impact not just the stock market but also crypto.
• NVIDIA is the largest stock in the S&P 500 by market cap, giving its performance significant weight over the entire market.
• The technical chart for NVDA is showing signs of weakness, with a lower high and a lower low already formed on the four-hour chart.
• It is currently threatening a key support/resistance (SR Flip) region. If the price stays below this level, it's a bearish sign leading into the earnings report.
• The market expectation is for great results, with an estimated revenue of $55 billion. If the report is disappointing, the speaker expects the market to "go down hard."

Takeaways

• NVIDIA's earnings report is a critical catalyst for all markets. A positive surprise could lift markets, while a negative one could trigger a significant sell-off.
• The stock's price action is currently bearish. Investors should watch if it can reclaim and hold above the key SR Flip level. Failure to do so is a warning sign.
• Given its influence, the outcome of NVDA's earnings could be the deciding factor for the short-term direction of Bitcoin and the broader crypto market.

Bitcoin (BTC)

• The overall trend is bearish, with the speaker noting that "bears are fully, fully, fully in control."
• Price is currently at a key support level, which is the bottom of a parallel channel.
• There is a possibility of a short-term bounce due to a TD Sequential 9 buy signal printing on the daily chart. Things are described as "quite overextended."
• If a bounce occurs, a potential target is the $100,000 level, but this would likely be a "lower high" and present a good shorting opportunity.
• If the current support level breaks, the next major target to the downside is $85,000.
• The speaker warns that if the price revisits the recent lows, it will likely break them, as "double bottoms very, very rarely work."
• A key bearish signal is the "death cross" (when the 50-day moving average crosses below the 200-day moving average), which has already occurred.
• Any relief rally should be watched closely. If a pump happens on declining volume, it's a major warning sign that the move is not sustainable.

Takeaways

• The primary trend for Bitcoin is down. Long positions are considered risky and are "going against the momentum."
• A short-term relief bounce is possible. Traders could see this as an opportunity to sell or open short positions near resistance, such as the $100,000 level.
• A break of the current lows would signal further downside, with $85,000 as the next logical target.
• For a bullish case to build, BTC needs to reclaim key levels like the yearly open (around $93,000). Until then, the bearish outlook remains.

Gold & Silver

• Gold (XAU/USD): The speaker is in a profitable short trade. They are looking for a potential second entry to short the metal if it rallies to the $4,135 area and shows signs of rejection (e.g., long wicks on the candles). The overall target is for "much lower prices."
• Silver (XAG/USD): The setup is described as "very, very, very similar" to Gold. The speaker is also in a profitable short trade. A potential area to add to shorts would be just shy of $52. The ultimate target for this swing short is the $30 region.

Takeaways

• The sentiment for precious metals is bearish. The trend is down, with lower lows and lower highs.
• Investors looking to short Gold could watch for price rejection around the $4,135 resistance level.
• For Silver, the key resistance and potential short entry zone is near $52, with a long-term target around $30.

Major Stock Market Indices (S&P 500, Dow Jones, QQQ)

• S&P 500: The trend has turned bearish, with a "break of structure" to lower lows and lower highs. It has fallen below a key support zone.
• Dow Jones: Also showing "cracks" in its uptrend. Any bounce into the 47,000 area is viewed as a potential resistance zone where the price could be shorted.
• QQQ (Nasdaq 100 ETF): Following the same bearish pattern, breaking below a key level at $613.

Takeaways

• Broad market indices are showing technical weakness and are in short-term downtrends.
• The sentiment is cautious to bearish, with bounces seen as opportunities to sell or short rather than buy.
• The direction of these indices is heavily tied to the upcoming NVIDIA earnings report.

Other Stocks & Equities

• MicroStrategy (MSTR): The speaker is in a highly profitable (almost 40%) short trade and plans to hold it for a "long, long, long time." They see potential for the price to fall to $100 or even as low as $60-$70.
• Tesla (TSLA): Bearish, putting in lower lows and highs. It has broken below a significant level at $410. It needs to get back above $420 to show any strength.
• Amazon (AMZN): Described as "absolutely cratering."
• Coinbase (COIN): Also coming down hard but may find potential support around the $217 level.
• Robinhood (HOOD): After a period of strong performance, it is now in a downtrend. It needs to trade back above $120 "ASAP" to reverse the bearish momentum.
• Google (GOOGL): Is "holding up okay" relative to the rest of the market.
• Apple (AAPL), Meta (META): Both showing bearish price action.

Takeaways

• The sentiment across most major tech and crypto-related stocks is bearish.
• MicroStrategy (MSTR) is seen as having significant further downside potential.
• Coinbase (COIN) has a potential support level to watch at $217.
• Most of these stocks are in clear downtrends, and caution is advised.

Altcoins

• General Sentiment: The speaker is extremely bearish on most altcoins, stating that charts for coins like Dogecoin and Arweave are "absolutely obliterated" and "rinsed." He believes most projects "will not survive."
• Dogecoin (DOGE): The speaker believes DOGE will likely never make a new all-time high again and is entering a long-term pattern of "diminishing returns" with each market cycle.
• Arweave (AR): The chart is described as "totally wiped." The speaker does not think it will ever get back above its previous high of $50.
• Zcash (ZEC): An exception that has been showing strength with big inflows. The speaker is in a long position but believes the rally will likely top out in December.
• Asta (ASTA): Has been one of the stronger performers and is "still looking strong." Potential resistance is expected between $1.92 and $2.00.
• Solana (SOL): In a clear downtrend. Any bounce to the $156 level is viewed as a potential shorting opportunity.
• XRP (XRP): Is approaching a potential "bouncing zone" around $1.96.

Takeaways

• Extreme caution is warranted for most altcoins. The speaker's view is that the vast majority are poor long-term holds and are likely to continue losing value.
• The strategy for altcoins should be short-term trading ("we're in and we're out"), focusing on the strongest performers like ZEC and ASTA while they have momentum.
• For weaker coins like SOL, bounces are seen as opportunities to sell or short.
• Long-term investors in projects like DOGE and AR should be aware of the highly bearish outlook presented.