One of my favorite Bruno Mars songs is the closing ballad on Unorthodox Jukebox. In it, he sings about realizing too late what he was about to lose.
I’ve got that track on as I write this, because I feel like many are about to feel Bruno's lyrics. If investors only knew how bullish the current setup in crypto really is, they’d avoid singing the same tune - except this time, about missed rallies.
I want to fill you in on what’s happening, because it’s certainly not being plastered across headlines.
But it will be in the next few weeks.
First: Bitcoin is finding a new floor on this retest. It’s giving investors one last chance to get in before it runs to 155,000.
Second: Volatility is at its lowest point in two years, which means a massive move is right around the corner.
Just look at the total crypto market cap, excluding the top 10 largest tokens. It’s coiled tight and ready for its next leg higher.
And check out Ethereum’s candles last week - those things can’t get any tighter.
Third: The average altcoin has been basing all year and is about to break out.
The real moves in crypto haven’t even started yet, and we’re still early to so many of these trades.
I think we’ll see this chart, and many like it, rip higher in September. Everyone’s saying September is a weak seasonal period, but I’m not buying it for a second.
If only investors knew how bullish this setup really is, they wouldn’t be sleepwalking through it.
The real pain won’t come from drawdowns, but from realizing too late what they could have had.
Just like the ballad, it’s the missed chance that stings the most.
From where the sun rises first,
Louis Sykes Senior Crypto Analyst, All Star Charts
