Shakeout City

We've made our thoughts pretty clear these last few weeks: The bias is higher for Bitcoin if it's above 30,000.

But while we're waiting for bulls to reassert control, it's been messy and choppy out there.

Many of the names we've been taking shots on the long side have fallen back below their risk level, to then aimlessly meander. Neither breakouts nor breakdowns are following through. It's ultimate indecision at play...

This is such a prevailing theme right now in the near term that even though we've been hitting on it a lot recently, we want to be downright obnoxious about it.

Until Bitcoin can pick a direction, buying any Altcoins on the long or short side becomes infinitely more complex.

Just take a look at how few outliers there have been from this mess recently. More or less every coin (above $1B in market-cap), is being heavily anchored down by this messy action in the major coins: