Bitcoin's shaping up rather nicely and I'm seeing a handful of successful breakouts around the place. If we see Bitcoin show its head above 73,000, we could be on the verge of an aggressive bullish move.
Many charts have gone sideways for many months, which provides us with a healthy foundation to build a rally off.
I can't help but notice the growing attention around real world assets (RWAs), more specifically the relative strength coming from this space and the backing of many prominent funds and investors.
GameStop and a number of speculative meme stocks have rallied in tremendous fashion this week. At the same time, we've yet to see this activity catch on in the crypto space.
I think as animal spirits reignite in this speculative securities, we'll eventually see a natural rotation that will bid higher a variety of meme coins in the crypto space.
Today's letter is a look at a variety of individual names and how I'm seeing this entire dynamic through the lens of the crypto asset class.
Crypto markets are still consolidating; the charts are shaping up constructively, but I want to see further strength to drag us out of these sideways ranges.
For now, I'm remaining patient and scanning for relative strength. That way, when momentum does return, I have a good list of coins that have the potential to be the next leaders.