For the most part, traditional markets have been a fat mess for the better part of this year.

That's why crypto has caught our attention so much in recent months: It's stood out as a beacon of alpha.

Whether or not you've been invested in crypto, chances are you've probably heard all the chatter about Solana - and for good reason. It gained a whopping 700% from its July lows in just under two months, making it one of our best trades of the year.

But, when you dive down the cap scale, there are so many opportunities shaping out just like how Solana was a few months ago.

Harmony is one of them:

We've been long Harmony on this breakout above 20 cents, and so far it's treated us very well, with prices are running up against our first upside target of 33 cents.

It seems to have a great fundamental use case, bridging together a variety of smart contract platforms and essentially making...

All-time highs can be messy, and many times, the breakout comes after the shakeout.

So will it be like this?

Considering the accumulation taking place by long-term spot investors on-chain, it's certainly looking that way.

Yesterday we saw a notable outflow out of exchanges as investors continue to scoop coins off exchanges and into cold storage to HODL.

Not bearish.

So if and when Bitcoin resolves higher back above 65k, we'll be positioned aggressively long both Bitcoin and in quality alts.

We're talking Ethereum, Solana, Harmony, Avalanche, FTX, Algorand, and Elrond, among a few others.

There's likely to be a ton of alpha in those names in the...

This is the video recording of our October 22, 2021, All Star Charts Crypto Weekly Strategy Session.

Bitcoin officially made an all-time yesterday, eclipsing its first-half highs around 65,000.

The importance of this cannot be overstated.

The question is whether or not Bitcoin can stick the landing. It's likely to be a process.

Our Top 5 Crypto Index is also on the verge of completing this major base.

Over longer timeframes, this price action is far from bearish.

Over the last month, we've argued that there's evidence Bitcoin could lead the altcoins.

We've seen this play out, but it looks like Bitcoin could be due for a rest relative to its counterparts.

Rotating Bitcoin profits into the coins showing relative strength makes sense right now:

Let's run through some of them.

Buyers are still in the process of absorbing Bitcoin's overhead supply around 65,000, and we're yet to see a decisive breakout.

We hate sounding like such a broken record about this level, but we really need to be downright obnoxious about its importance.

Though we think Bitcoin will eventually breakout, we wanted to dive deeper into the near-term risks associated with the leverage that speculators have recently adopted that elevates the risk of another potential long squeeze in the coming weeks.

In this chart, we're looking at Bitcoin's total open interest as well as the open interest held exclusively in perpetual future contracts. Since Bitcoin bottomed at the end of September, we've seen OI jump by a notable $11B in just 3-weeks.

In yesterday's note, we exercised caution given that Bitcoin achieved our upside target and the growing leverage in the derivative markets.

The strategy for the coming days/weeks is that if Bitcoin is below 65,000, the bias is sideways to lower in the near term.

But when we look out longer-term, the skies could not be any bluer for the asset class.

We're in the camp that Bitcoin will eventually resolve higher, and when it does, it would be irresponsible to NOT be positioned aggressively long crypto.

We're not just talking Bitcoin, but also the altcoins, and even the crypto stocks.

So let's zoom out and identify the backdrop of accumulation that has and continues to take place on-chain.

One of the often underappreciated elements of crypto is the transparency of transactions that enables us to really see what's happening in the market. The vast majority of our analysis in traditional markets is conducted through price charts because price reflects the intimate dynamic of supply and demand. But in crypto, on-chain trends are...

Just like that, Bitcoin hit our upside objective.

Now, patience is warranted as demand begins to absorb the looming supply around these levels.

It'd be prudent to raise cash and take some profits off the table while Bitcoin is below 65,000. Below there, the downside risks remain elevated for now.

This is the video recording of our October 15, 2021, All Star Charts Crypto Weekly Strategy Session.

Polkadot has shown some impressive strength in the last week.

Now that prices are back to the upper end of this range, a definitive breakout is only another $10 away.

This has all the same characteristics Solana, Axie Infinity, and Cardano showed before they all surged.

Accumulation, building a base... now we just need to wait for the breakout.

Some of us were discussing internally today's topic.

After a few minutes, we were stumped.

The market hasn't given us much to write about over the last week.

And that's fine. If the market isn't giving you anything new, don't spend your day looking at the screen for something that isn't there.

Over the last few months, we've focused on names trading above their spring highs.

Along with this simple message, we've included this chart featuring four prominent names right at their highs from earlier in the year:

We're putting so much effort into this setup for two reasons:

• All-time highs are achieved in the strongest of assets.
• Buying new highs allows us to define our risk.

First, bases take time to build.

Bases of this magnitude are formed by accumulation from people with a lot of money that needs to be put to work. Institutions -- or, in the case of crypto, whales -- need liquidity to enter long-term spot positions. They don't have the luxuries of more nimble traders who are able to enter and exit at will and start long-term positions when momentum heats up on a breakout.

They need liquidity, and there's plenty of it when retail capitulates and sells their coins down in bear markets.

Unlike what university professors will argue, prices don't fall under a normal distribution,...

This is our ASC Research Q4 2021 Playbook.

With the current market environment giving us many mixed messages, what better time to dive in and see what's happening underneath the surface?

• Stocks (International & U.S.)
• U.S. Sectors & Industries
• Market Breadth & Sentiment
• Commodities
• Currencies
• Intermarket Analysis
• Crypto Currencies
• New Trade Ideas
• Overall Strategy