Welcome Everyone to the Twenty-Second 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 sideways consolidation this week as investors wait on the sidelines post-crash. 💥😱

• Some Altcoins continue to bleed, but some show signs of strength! 🩸📈

• BTC & ETH updates to give a direction for the week ahead. 🧠

Sentiment Analysis 🧐

In the prior week we saw consistent sideways price action and Fearful sentiment as investors wait on the sidelines post-crash.

Sentiment started the week in Fear at 25 and ranged between 25-31 as BTC slid slightly lower to tag $56,000. We saw minimal volatility this week and there was little change in sentiment with the market still in the Fear/Extreme Fear state since the prior panic.

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. There can be further swings lower, however I don’t see sentiment staying in such Extreme Fear and relief is coming soon.

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.

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

This week we saw a sideways/down crypto market and minimal volatility as BTC ranged between $56,100 and $61,800.

From the prior crash to $49,000, we saw a recovery back to the key $60,000 support level which wasn’t able to be reclaimed as support. Instead, price traded back into this level and the Daily trending EMAs (50, 20) before sellers stepped in and rejected the level.

There is now the possibility for further downside risk from the current levels on BTC down to $56,000 and $54,000. This is still consolidation and choppy conditions on the Daily timeframes and above but this short-term rejection off of $60,000 opens up the possibility of short-term downside moves for the week ahead.

As we’re near the bottom of the accumulation channel, I expect any dips lower to be bought up quickly and we can resume regular programming to $70,000 and above.

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 saw less buying pressure this week compared to BTC and failed to retest its key $2,850 support level as resistance.

Instead, ETH traded and tested $2,777 before finding sellers and falling back to $2,517. Ether is simply following BTC price action however is looking weaker due to the inability to rebound and test the $2,850 level.

I expect ETH to follow BTC if it dips this week and we’ll likely see $2,400 and $2,350 if this happens. ETH and Altcoins are in more danger of having liquidation events as there are a lack of buyers in the market as of late and there can be slippage occurring on large positions.

For Ether to return to a bullish market it will have to break through the counter-trendline (blue) and above $2,850. It’s possible this current region is a spring region but we will only get confirmation when ETH trades above its prior major support level.

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! 🌯

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: