I briefly walked through how I want to be patient trading names in the short-term while focusing on relative strength.
While today's name isn't currently actionable, it is just a stone's throw from being so. And, it's both a relative leader as well as having the tailwind of smart money in behind it.
There's nothing to provide updates on, nor any new trade opportunities I have seen.
I am reiterating the message earlier in the week.
I think this is a good place to add long-term exposure, but do not believe it to be good for short-term trading opportunities; more patience is needed here.
The primary theme in crypto is that we have just undergone a significant rinse in bullish positioning. This is positive to see.
Although, the market does tend to take some time to shape up following this deleveraging events. We want to play crypto patiently and keeping our trading exposure light in the short-term by focusing on any relative leadership until some shape has been put in.
Equity market strength gives me further conviction to anticipate the resolution will be higher once this shaping period has completed, hence why I have increased our intermediate term bias to bullish while keeping our short-term bias at neutral.
I think the evidence points to a low of sizeable magnitude having been put in, but now the expectation is sideways price action as we enter into a shaping period.
Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.
Our choice of investment vehicle in the crypto space isn't just limited to altcoins and tokens, but there is also of course a wide variety of publicly-listed companies to choose from.
I've talked at length about the Bitcoin mining stocks, albeit less in recent times. While many of these stocks have broken down, there could be an opportunity shaping up in many of these stocks.
Last week saw an incredible amount of investor panic.
Often, you want to take the other side of this emotion. But before we do this with any conviction, we need to see market trends shape up in more bullish fashion.
We entered Bitcoin long on bear's inability to hold the breakdown below 56,000 and Ethereum's retest of 2,000. But apart from this, I'm still maintaining a neutral short and intermediate term directional bias in the crypto markets. I would like to see prices shape up more definitively, which can take some time following corrections such as these.
Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.
These tapes are a perfect time to hunt for leadership. More often than not, when the tide inevitably shifts back to a buyer-driven market, the assets that showed strength in a weak tape continue to lead.
While on this recent correction the selling has been indiscriminate, we're spending the next week or two to assess any relative leaders.
Two days into a recovery, we've seen the DePIN and memecoin space show some leadership. Today's note covers a few tokens within these groups leading this strength, as well as providing a brief market update.
Crypto volatility has surged once again, and it's understandable if you're feeling stressed from this recent move.
If you’re holding crypto assets, you might be experiencing a significant drawdown. This volatility is a natural part of the investment journey in this asset class. It's to be expected you'll weather these drawdowns in crypto.
During turbulent times like these, it’s crucial to recognize that heightened emotions can cloud judgment. While it’s perfectly normal to feel stressed during a downturn, it’s important to be aware of how these emotions can impact your decision-making.
Amidst the noise and speculation, our goal today is to provide clarity.
In this report, we’ll contextualize the recent sell-off with historical data and outline a data-driven strategy to navigate the current landscape. By focusing on objective analysis, we aim to help you make informed decisions and maintain a steady course guided by data, not emotion.
In the case of crypto, people will try to tie the action to the presidential odds or geopolitical tensions. And while I'm not denying their existence, it's not really surprising that these developments are coming out after Bitcoin retested its former highs.
It's why we switched our short-term bias to neutral on Monday; it pays to follow money flow.
Putting all this aside, there are still some winners. Not everything is a complete catastrophe.
Instead, some of the smart wallets on-chain are actually buying a few tokens here. That's what we explore in this week's video.
