Welcome Everyone to the Twenty-first 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.

Every week feels like a year in crypto markets with so much to share and catch up on. I hope you find value in these newsletters and add them to your trading regime to maximise your profits! Enjoy!!

The TLDR; 👀

• Crypto markets saw a bounce this week and recovered the majority of losses that occurred over the last few weeks. 📈💰

• BTC continues to lead the market, but strong Altcoins are catching up! 🆙

• Prior analysis is panning out as expected but will we hold the reclaim of the key $60,000 price level? 😱

Sentiment Analysis 🧐

Coming off one of the most volatile weeks in crypto history prior, this week was a refreshing break from the Extreme Fear sentiment that we saw at the lows of the market when BTC was falling to the low $50,000 price levels.

Sentiment started the week in Extreme Fear, however as price continued to climb higher and back to $60,000, traders and investors became less Fearful and sentiment started to shift to a more neutral stance.

We peaked at the start of the week at the lows of 16 on the sentiment rating and ended at 38 which is a significant improvement in investor sentiment and confidence. Now we are still hovering in ‘Slightly Fearful’ territory as the hangover from the Black Monday crash still lingers on traders’ minds.

Fear and Extreme Fear is a time for accumulation and buying, so I am deploying capital at these prices and expecting this to be the final capitulation move lower before we see the next move higher in crypto and risk assets in general.

Crypto has seen the short-term boom and bust cycles and pattern many times and seasoned traders look past the noise and are numb to the portfolio PnL swings. I’m HODLing from the lows and my DCA re-accumulation areas while still remaining patient and letting the market swing how it wants. I will sell again when we see the Extremes of Greed but now is not the time to panic and exit markets entirely off the back of “recession fears”.

Everything has been playing out as expected and now that we’ve seen a bounce from the lows of Extreme Fear. This may be the bottom and last chance to buy crypto at value areas before we see the next markup. 💰

Bitcoin Weekly Breakdown

Last week we saw a recovery in the market since the crash and BTC returned back to the $60,000 level. Long term buyers stepped into the market to support price, and we saw the cheap coins get scooped up quickly and new money was able to get positioned into the market at good value.

Above is a chart of the BTC Daily price action and how I’ve been trading the accumulation range. We saw the ‘Spring’ into the highs of $70,000 on the 31st, then as quickly as we rallied, we fell back to $60,000 major support and more as over levered traders were forced to sell positions and a cascade occurred. Now we’ve seen a bounce from the lows and a recovery back to $60,000. This gives the market confidence that prices below $60,000 are a value territory and moves there will be short lived.

Now price is trading just below $62,000 and at the major support level. We expected a bounce this week and recovery from the prior DOSES and remained bullish despite the news headlines and general market sentiment. This dip was one of the final opportunities to stack BTC rather than one to panic over and everyone in the Discord was informed and well positioned in and out of the move.

Now that we’ve seen the bounce, I expect that any further moves to the downside will continue to be bought up quickly and we’ll eventually rally towards $70,000 and break out of this long-term accumulation range and head towards $100,000+. I’ve been positioned for this since June and waiting patiently for momentum to come in and the move to take place.

Stay alert and stay cautious when trading in these conditions as liquidity is low and leveraged positions get wiped easily. Stick with the basics, accumulate, and don’t let emotions dictate your trading decisions.

Ethereum Weekly Breakdown

Ether bounced and followed BTC however didn’t see the same bullish reaction and reclaim of key levels.

Ether started the trading week at $2,683 before seeing a continued crash and spike to $2,114. As BTC bounced, we saw a bounce in Ether however it only pushed towards $2,723 as traders are in a more “risk-off” mindset when it comes to Altcoins.

There isn’t much to update for the Ethereum analysis as the focus is on BTC as of current. We need to see Ether reclaim and hold $2,850 to have a shot at pushing for $3,000 and higher. This should coincide with BTC making a push for $70,000 and breaking out of the range highs.

Once we get more levels reclaimed on Ether, I plan to leverage trade Altcoins to capture additional gains to spot holdings. ETH/BTC is still looking weak, and I believe BTC will continue to lead the market and give a direction for Altcoins to follow.

To trade Altcoins in these conditions you need to take a “sniper” approach and only trade strong Altcoins and ones that are most likely to outperform BTC with strong trends. This correction has been devastating for most Alt/BTC pairs and when we do get the eventual “Alt Season”, only the strongest Alts will capture the gains, and the remainder will underperform and trade like pump and dump schemes.

For now, avoid leverage and focus on the majors until we get confirmation that it’s safe to take more risk. Don’t blow up your portfolio this early in the cycle and fail to capture the coming exponential moves. Keep risk tight, manage losses as best as you can, consolidate to quality projects and don’t make emotional trading decisions.

For now, I expect further surges in Altcoins off the back of Ether strength and am paying attention to strong Altcoins to catch these moves (SOL, RNDR, potentially MEMES).

Hope you have a safe and profitable trading week! As always, day by day updates are provided in the Discord that you can find at the bottom of this DOSE!

That’s a Wrap for this Week! 🌯

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