Welcome Everyone to the First Ever Chronicles DOSE!! 🎉

This is a Weekly newsletter aimed for you to receive comprehensive weekly analysis, research reports, and actionable trade ideas covering traditional and crypto markets.

I’m excited to launch this now with the markets being hot and ripe with opportunity 🥭. I hope you find value in these newsletters and add them to your trading regime to maximise your profits! Enjoy!!

The TLDR; 👀

• BTC and ETH continue to hold strong bullish trends. With little sign of exhaustion and overextension. 📈

• Sentiment is nearing Extreme Greed levels, but capital is still yet to flow into the higher risk Altcoin space. 🚨

• RNDR is one of the top performing coins this week. Totalling 40% gains and reaching the first profit target! 🎯

Market Sentiment 🧠

The current market sentiment is sitting in the Greed region between 60-69 levels.

Observing the price trend compared to Sentiment. There has been a clear shift in the rally where confidence has returned to the market with the latest rally from $25,000 to $38,000.

We are currently in the “Belief” phase of this new mini Market Cycle that started this year, and in the “Disbelief” phase of the longer term secular bullish market cycle.

This indicates to me that the trend is almost ready to correct and continue the longer term accumulation trend into the halving, however needs to have a final “blow off top” / Euphoria phase where Crypto Assets are shown on local news stations/inexperienced retail enters the market and institutions begin to exit positions. 💰

Bitcoin Weekly Breakdown

When analysing crypto markets, we take a look at BTC first considering it is the largest coin in the space and defines the trend for the higher risk altcoins to follow.

BTC started the Week at $37,000, and dripped to $34,800 before buyers stepped in to close the Week a slightly down at $36,630. The major volatility occurred on Wednesday where there was a positive CPI news announcement and price rallied 6.5% however has since been rangebound in this zone.

The major pivot points for momentum to come in this week are defined above $38,000 and below $35,000. If price pressures $38,000, we can see a sharp move based on liquidations above $40,000 where the Altcoin market will accelerate hard. However pressure below $35,000 will signal minor distribution and price can return to the Daily 50EMA (red). Where bulls will be tested to uphold the trend.

The highest probability is BTC holds the 20 EMA (grey) and pushes for a move to $40,000+, and push the market into an Extreme Greed phase. Where Altcoins can catch up and outperform.

Ethereum Weekly Breakdown

Ethereum is the more exciting coin to focus on this week due to the amount of confluence there is over BTC when it comes to further continuation and an eventual break of the $2,000 price level.

Ether started the Week at $2,050 right on the long term Higher Time Frame resistance. It dipped down to the Daily 20EMA (grey) where it found support and rallied 4.0% into the week end to end the week at $2,015.

There are clear attempts from bulls to run through this resistance level, however the recent volatility in BTC is causing Ether to accumulate below resistance. The majority of time this leads to an explosive breakout move through resistance, where short term and long term bears are pushed offside at the same time, triggering stops causing forced buying at much higher prices.

The major pivot points for momentum to come into Ethereum is above $2,100. However, may also follow Bitcoin if it dips further and Ether can see the Daily 50 EMA (red) met at $1,870.

I do expect the long term wedge breakout will play out and push Ether above $2,000 and into the $2,400 - $2,500+ range. However further accumulation may be needed if BTC corrects.

My main goal this week is to catch this Ethereum breakout if it occurs and make BTC Value as capital flows into more high risk Altcoins.

Biggest Trades This Week! $RNDR 📈💰

RenderToken is a distributed GPU rendering network built on top of the Ethereum blockchain, aiming to connect artists and studios in need of GPU compute power with mining partners willing to rent their GPU capabilities out.

RNDR is a leader in the distributed GPU market and is a major beneficiary of the tailwinds AI and LLM processing are producing.

I’ve been accumulating spot positions in $RNDR since early March this year expecting outsized performance on the back of these tailwinds and hype in the AI space. This week saw one of the largest moves in the tokens history, rising 40%+ in a week and hitting my first Take Profit region.

While the AI and LLM hype is relevant, my goals is to trade RNDR for BTC profits and continue to add on dips when the market eventually cools. If the AI hype continues for years into the future, RNDR may produce similar performance to that of Solana and Chainlink in the past however it will be clear only when BTC moves into its corrective phase.

One to keep on your watch list and research for the coming cycle! A bigger deep dive on this project is in the works. 📚

Are Altcoins Ready to Take Centre Stage? 🤔

While Bitcoin has seen a massive performance of approx. 120%+ so far this year. Altcoins have been lagging, and the majority have underperformed BTC during this time.

This trend is common during recovery phases of the bull cycle. When prices were consistently falling and there is a low risk appetite. Traders focus on BTC, the largest cryptocurrency, and sell off their Altcoin positions as they readjust their portfolios and trim the holdings. Then as markets show signs of strength and recovery, do they then branch off into the risk spectrum and start holding more innovative and higher risk projects.

For charting purposes, this is shown by measure Bitcoin Dominance to the rest of the market. During bear phases, BTC Dominance rises due to the risk-off appetite of investors and means reverts back to the Monthly 50EMA (red). Then there is usually a sharp rejection, as capital flows into Altcoins and the search for Alpha begins.

Right now, BTC Dominance has reached record high local values at 54% of the market and has completed the mean reversion of the bearish cycle. I’m expecting a rejection from this region, and BTC ratios (ETH/BTC, SOL/BTC etc.) to rise as capital flows downstream into higher risk assets.

That’s a Wrap for this Week! 🌯

If you’re not subscribed to Chronicles, make sure to hit the link below and be the first to receive the FREE content and analysis to help you understand and thrive in these complex markets!

Subscribe here:

And also join the Discord to connect with like-minded and successful traders on a similar journey to yourself!

Join the Masterclass Discord: