Last week, we discussed the high likelihood that crypto markets undergo a period of consolidation. With Bitcoin testing resistance at the former all-time highs, the longer-term technical view would seem to suggest that this is a logical area to see this consolidation take place.

Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.

Every week, we create a Power Rankings table that lists the market-cap rank of the top 20 cryptocurrencies. This allows us to see the winners and losers as they climb the market-cap ladder.

Last week, we published a variety of potential trade ideas that were shaping up. With Bitcoin still above our risk level at the time of writing that note, there were many coins breaking higher. But since the publication of that letter, many of these recent breakouts have failed alongside Bitcoin. As such, many of our trade ideas have fallen below their risk levels.

Here is the link to this week's crypto recording. This is a chance for us to zoom out, put the noise aside, and discuss the most important charts in the world of crypto.
 

In last week’s letter, we outlined the various downside risks we were monitoring. Namely, with Bitcoin retesting the 2021 highs and profit-taking occurring on-chain, we pointed to a number of developments that could’ve prompted a more defensive posture. As such, we've seen sellers become dominant once-again, with Bitcoin and many altcoins falling below our risk levels this weekend.

Crypto markets are trading at a rather significant inflection point; they need to hold here, else we're in for a period of consolidation.

This morning, I ran our emerging cryptocurrency scan, which alerts us to when a cryptocurrency exceeds a certain market-cap threshold for the first time. When a cryptocurrency is climbing the market-cap ladder, we're the first ones to know about it.

I couldn't help but mention the cryptocurrency we got alerted to today.

In Monday’s letter, we walked through how we’re monitoring Bitcoin’s downside risks in the face of an incredibly strong tape. Even though this environment is unequivocally rewarding buyers, it’s always prudent to manage our risks as traders and investors. There is still a probability that Bitcoin consolidates it’s gains near the former all-time highs achieved in 2021; but at the same time, we need to let money flow dictate our execution, not opinions.

So in keeping true to this theme, today’s letter will cover a number of new trade ideas we’re monitoring.

As Bitcoin approaches its previous all-time highs and our primary long-term target, we remain vigilant regarding several developments that may prompt a shift towards a more tactically bearish outlook. Amidst these considerations, it is imperative to prioritize money flow over subjective opinions, allowing it to guide our execution.

The easy trade to make in this space is to simply buy Bitcoin on a breakout to new all-time highs. But should you want to get more creative with a higher risk/higher reward trade, we have you covered.

Here is a list of trade ideas organized by date, ticker symbol and directional bias. Please make sure you have clicked on the link and read the details surrounding the trade before acting upon any of them. Also, make sure you have checked with your financial advisor and tax accountants to make sure you are suitable to be executing what is discussed on this website. The risk management procedures and targets are detailed for each idea. Please read and review the terms and conditions page before making any trades of your own.