We keep saying it: There are just so many good setups out there.
You’ve noticed?
This is the first time in months that there’s generally a good shape to the price action in these beaten-up altcoins.
Expert technical analysis of financial markets by JC Parets
by Louis Sykes
We keep saying it: There are just so many good setups out there.
You’ve noticed?
This is the first time in months that there’s generally a good shape to the price action in these beaten-up altcoins.
by Louis Sykes
Welcome to our weekly crypto open letter.
The last few weeks have seen a sizeable shift in our approach. Here’s a summary of this period:
by JC
This is just too perfect.
Straight from the Monopoly Rule Book, written 90 years ago.
Who would have thought that our central bankers would be getting their inspiration from a board game?
And so what are the consequences of such shenanigans?
Well…. [Read more…]
by David
This is the video recording of our April 1, 2022, All Star Charts Crypto Weekly Strategy Session.
by Louis Sykes
From the desk of Louis Sykes @haumicharts
Alright, time for a light-hearted story.
Over the last few months, I’ve jumped down the rabbit hole that is Crypto Twitter (better known as CT).
As someone who’s snooped around Financial Twitter (or FinTwit), a community dominated by industry professionals, CMTs, and CFAs, opening the trapdoor into CT felt similar to the culture shock I would experience moving to a new country.
Anyone that’s had a presence in CT knows the culture: anon (anonymous) accounts, constant meme-ing, and shit-posting from a community of outcasts and degenerates enjoying riding the volatility of a new generation of assets.
This carnage was the perfect breeding ground for the wassie…
by Louis Sykes
One of the hallmarks of the beginning stages of new trends, irrespective of asset class, is the thrust.
There are many different ways markets can thrust, but it’s commonly one of two:
In Monday’s letter, we discussed that if Bitcoin could close in the green, it’d be the first time it’s seen seven consecutive positive closes since the July short squeeze.
Fast-forward, we’re now sitting on eight with a probability of nine green candles in a row:
by Louis Sykes
Wait for your perfect pitch.
We say it all the time.
There are no called strikes on Wall Street. In other words, we’re not penalized for not swinging, like you are in baseball.
We have the ability to be patient, to a certain extent at least, depending on your mandate. But most of us don’t have mandates! Even one of the best hitters of all time struggled when he swung at bad pitches.
by Louis Sykes
In last week’s letter, we outlined a handful of key bullish developments leading us to forecast a high probability of an upward resolution from this consolidation.
Alleviation of the selling in futures and renewed spot demand pointed to a high probability of Bitcoin resolving higher out of this multi-month trading range.
As of the writing of this note, we’ve seen this take place, with Bitcoin taking out resistance at 46,000.
More aggressive long positions are now warranted.