All Star Charts Crypto Articles

Another positive week -- add it to the growing tally!

This is the first time Bitcoin's been up for four consecutive weeks since August 2021. Similarly, Bitcoin's 14-day RSI eclipsed its highest level going back more than two years.

We have a name for this price action...

Momentum thrusts.

We see them all the time in the beginning stages of new trends.

There's no denying that this move has been impressive. In fact, we'd even argue that it represents a structural shift in this market.

But where do we go from here?

Let's dive into this week's letter.

This is the video recording of our January 27, 2023, All Star Charts Crypto Weekly Strategy Session.

I hear ya.

You don't want boring words.

You want trade ideas!

We know we haven't published many over the last year. But this has been a purposeful decision.

Think about what's happened. People who forced old strategies in this bear market were culled.

This environment has been the polar opposite to the Solana summer. You can't buy random shitcoin breakouts and multi-bag trades within a few days.

It just hasn't been that kind of market.

But this is potentially changing.

There's a high degree of momentum driving the market.

Last week, we saw a continuation of this bullish action, with Bitcoin and altcoins taking out local resistance levels.

This comes as little surprise, considering the trends are now unequivocally higher.

This is the video recording of our January 20, 2023, All Star Charts Crypto Weekly Strategy Session.

We did it.

We've flipped the book long.

With Bitcoin $BTC and Ethereum $ETH reclaiming their prior-cycle highs, we even went as far as arguing that this recent move represents a structural regime shift for the asset class.

In our view, both the short and intermediate-term trends have now definitively shifted higher.

This comes within the context of a slew of risk-on developments in traditional markets.

What a week, eh?

Bitcoin had its best week in two years, with the orange coin rallying 22%. Many coins followed suit, with names like Solana gaining a whopping 60% last week.

This move was merely a continuation of the momentum we pointed out at the beginning of last week, with many of our internal breadth metrics moving into bullish conditions.

This is the video recording of our January 13, 2023, All Star Charts Crypto Weekly Strategy Session.

There's no denying many alts have posted sizeable gains over the last week.

But the fact remains that the appropriate conditions have yet to align for us to flip the book long.

Perhaps the best example of this is the recent move in Gala $GALA.

From the lows to the highs, Gala saw a 230% gain in the space of two weeks. It is, by far, the strongest name in this entire market rally.

But despite this 3x move, we're still below this broken support. Chances are, bears will step in here, and Gala will see some rightful consolidation.

This is just not a chart we want to buy on any level.

Harmony $ONE looks similar in that its retesting this breakdown level from the underside.

Ask yourself, "Is this a chart I want to buy?"

Put aside any preconceived ideas about the environment or Harmony's "fundamentals."

Does a chart like this inspire confidence?

Or patience?

We'd...

Over the last week, we've seen momentum flow down the cap scale in crypto markets. Many altcoins have posted sizeable gains coming from historically skewed levels.

This is happening in the context of a tightening volatility regime, where price stability in Bitcoin, Ethereum, and most alts were at some of the highest levels in recent history.

Make no mistake: Volatility is around the corner.

While price action is trending in nature, volatility mean-reverts. Periods of low volatility precede volatility expansions and vice versa.

So, where do we find ourselves today?

Bitcoin's price stability is at its third-highest level in the last five years.

Have you noticed?

Crypto volatility has completely died off. You'd probably get more juice trading the equity indices than shitcoins these days.

These extremes in volatility -- or lack thereof -- don't last long.

So, we're placing a high likelihood that Bitcoin will make a decisive move in the coming weeks.

And how are we looking to profit from this upcoming move?

This is the video recording of our December 30, 2022, All Star Charts Crypto Weekly Strategy Session.