This is the video recording of our December 30, 2022, All Star Charts Crypto Weekly Strategy Session.
Kicking Off 2023 With a Bang
They say never to short a dull market.
It’s sure got dull, right?
Bitcoin’s volume and volatility have taken a summer holiday, with the biggest cryptocurrency’s monthly Bollinger bandwidth contracting to its third-lowest level in the last five years.
We’ve referenced this chart many times this year, giving us a great heads-up on when to anticipate volatility.
Just take a look at this volatility contraction…
The One Comforting Truth
This market’s been so easy, right?
You literally had to do nothing, and you’ve outperformed some of the most sophisticated crypto trading firms on the planet.
By loss realization and institutional contagion, this is the single worst crypto bear market in history.
So, if you’re still here with a few dollars to your name, take solace in the fact that you’ve done a better job at risk management than some of the most intelligent players in the space.
For us, our process has been incredibly simple.
The Degen Tape
From the Desk of Louis Sykes @haumicharts
Merry Christmas!
I hope you enjoyed these last few days shutting off, spending time with your family, and eating good food.
Unlike most of the world, it’s summer in New Zealand. Over here, we spend our Christmases in the hot sun, swimming, and enjoying the outdoors.
It’s a great vibe.
But let’s get a little crypto out of the way before our New Year’s celebrations.
We’ll keep this short, as there’s simply nothing to update.
[Crypto] Weekly Strategy Session – December 23, 2022
This is the video recording of our December 23, 2022, All Star Charts Crypto Weekly Strategy Session.
Eyeing a Dollar Bounce
There’s no denying it.
The US dollar has been an incredible reflection of financial conditions this year. By extension, the correlations between the dollar and risk assets have held firm.
Equities and crypto were under pressure whenever the US dollar trended higher in 2022.
And when the dollar was correcting, equities and crypto were trending higher.
We don’t need to overcomplicate this.
[Premium India] Monthly Conference Call Video Recording December 2022
This is the recording from the live December 2022 Conference Call for Members of the Allstarcharts India! Before getting into individual stock ideas in India, we’re going to first start with the global macro perspective. Once we identify the direction of the underlying trends from a structural and broader view, then we’ll dive into the NIFTY Indexes on both longer-term and short-term timeframes. We want to look at Large-caps, Small-caps, and everything in between before getting into the Sector and Industries themselves like Energy, Banks, and Pharma.
This is when we finally break things down to the individual stock scenario with identified risk vs reward opportunities. That is what this is all about – aligning ourselves in the direction of the underlying trend while at the same time identifying where the risk is to make sure the potential reward is skewed exponentially in our favor. You will find that throughout this process we discuss Momentum, Fibonacci and Relative Strength. I encourage you to check out the Education Section so you know exactly where I’m coming from when you hear me mention these tools.
Here is the video in full:
We Were Wrong
The strategy was simple: long Coinbase $COIN above the May lows while cutting our losses below there.
And, lo and behold, it took out those pivot lows. Like any responsible trader using good risk-management practices, we took the loss on the chin and got out of the position.
We were either plain wrong or got the timing off on the trade, so we stuck to our plan and obeyed the price action. We thought the stock was good for a bounce.
But, clearly, COIN had other ideas.
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