There's been no getting away from it.
These last few months have been rather lackluster if you're a crypto trader.
But that's perfectly fine.
The market should never be your dopamine fix. The ability to sit on the sidelines for long periods of time -- as difficult as it may be -- is often the differentiating factor separating mediocre traders from good ones.
Even in the face of this recent strength, there's still not a whole lot to discuss.
Cryptocurrencies have completed multi-year distribution patterns and are now retesting their breakdown levels from the underside.
There are most definitely mean-reversion trade opportunities out there. But they're low-conviction, counter-trend in nature, and messy.
Meanwhile, Ethereum and many other names have bounced nicely back into supply zones following their respective rallies.
If this tape has reflected anything, it's to be very aggressive in taking any profits. This is particularly true considering the countless whipsaws we've seen over the recent months.
So, for today's note, we wanted to be a little obnoxious in pointing out all this overhead supply that lingers.
Let's dig in.
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