From the Desk of Louis Sykes @haumicharts

I have to get this off my chest.

Wherever I look on Twitter, people are complaining about this rally.

They say it's manipulated.

They say it's all a conspiracy driven by Binance to get suckers to buy in before pulling the rug.

What's hilarious is that those same people were tilted when Alameda was around, arguing that they were manipulating the market.

Now Alameda's gone, they're looking for another scapegoat.

"My stops got hit, must've been Alameda."

No.

There isn't some random conspiracy entity chasing your stops.

You're just a shit trader.

There's a high degree of momentum driving the market.

Last week, we saw a continuation of this bullish action, with Bitcoin and altcoins taking out local resistance levels.

This comes as little surprise, considering the trends are now unequivocally higher.

This is the video recording of our January 20, 2023, All Star Charts Crypto Weekly Strategy Session.

Forget cryptocurrencies. Look at these crypto stocks!

Seriously, some of these moves have been nuts.

We took a small long in MicroStrategy $MSTR at the lows, and it hit our 50%-plus target in just two weeks.

Crazy...

If cryptocurrencies are going to start trending higher -- which is our bet -- these stocks face serious resistance.

But let's approach this with a level head.

We did it.

We've flipped the book long.

With Bitcoin $BTC and Ethereum $ETH reclaiming their prior-cycle highs, we even went as far as arguing that this recent move represents a structural regime shift for the asset class.

In our view, both the short and intermediate-term trends have now definitively shifted higher.

This comes within the context of a slew of risk-on developments in traditional markets.

What a week, eh?

Bitcoin had its best week in two years, with the orange coin rallying 22%. Many coins followed suit, with names like Solana gaining a whopping 60% last week.

This move was merely a continuation of the momentum we pointed out at the beginning of last week, with many of our internal breadth metrics moving into bullish conditions.

This is the video recording of our January 13, 2023, All Star Charts Crypto Weekly Strategy Session.

From the Desk of Louis Sykes

Every child loves a bedtime story.

These stories allow their mind to wander from busy thoughts into an adventure. It provides a comforting reality and a narrative they can consciously control.

Comically, in this sense, children and investors are more similar than we let on.

It's just that one obtains comfort from an adventurous tale while the other derives solace in news headlines.

Don't get me wrong, I'm not saying this is bad or wrong. I'm just noting its existence.

The vast majority of investors need to understand why a stock is moving rather than solely following technicals and money flow.

I totally get it.

You seeing this?

Riot Blockchain $RIOT is rebranding to Riot Platforms "amid a bleak outlook for the crypto industry."

You can't make this up.

Only after the stock has stumbled into a 96% drawdown do they change the name of the company.

There's no denying many alts have posted sizeable gains over the last week.

But the fact remains that the appropriate conditions have yet to align for us to flip the book long.

Perhaps the best example of this is the recent move in Gala $GALA.

From the lows to the highs, Gala saw a 230% gain in the space of two weeks. It is, by far, the strongest name in this entire market rally.

But despite this 3x move, we're still below this broken support. Chances are, bears will step in here, and Gala will see some rightful consolidation.

This is just not a chart we want to buy on any level.

Harmony $ONE looks similar in that its retesting this breakdown level from the underside.

Ask yourself, "Is this a chart I want to buy?"

Put aside any preconceived ideas about the environment or Harmony's "fundamentals."

Does a chart like this inspire confidence?

Or patience?

We'd...

Over the last week, we've seen momentum flow down the cap scale in crypto markets. Many altcoins have posted sizeable gains coming from historically skewed levels.

This is happening in the context of a tightening volatility regime, where price stability in Bitcoin, Ethereum, and most alts were at some of the highest levels in recent history.