Treat the Pump Cautiously

Louis Sykes
July 18, 2022

From the desk of Louis Sykes @haumicharts

In recent months, we've argued in favor of a defensive approach.

Last week, we made our strategy rather clear with the following dialogue:

With the market providing extreme readings, these are conditions by which we can anticipate a mean-reversion rally higher. At the same time, trying to catch this move in a period of continual whipsaws will be difficult.

We think the better trade is to remain patient over the near term while dollar-cost averaging into long-term spot positions with a multi-year time frame.

Over the weekend, we've seen a sharp rally higher, driven by Ethereum $ETH.

 

 

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