πŸ” The Shaping Period

Louis Sykes
August 14, 2024

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.

Our longer-term bias is still firmly bullish.

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