Bitcoin Breakout and Retest Signal Bullish Momentum
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Nasdaq 100 futures climbed nearly 1% early Monday, challenging social media predictions that markets would open into a "Black Monday" crash.
Crypto analyst Sykodelic posted on X early Monday that Bitcoin’s 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 “Black Monday” crash calls circulate online while US stock futures point higher.
Bitcoin Chart Breakout Meets Black Monday Fears
In the October 19 post, Sykodelic wrote that “the timeline has been in the depths of despair” even as Bitcoin’s daily chart appeared to show “a breakout and retest of the previous high, and 50 EMA.”
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 to Nasdaq 100 futures up nearly 1% and an S&P 500 set to add $350 billion in market cap at the open. “This aged well,” it wrote.
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.

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