My Plan For Stage 2 Of This Crypto Cycle!

Crypto Banter

Summary of Crypto Market Transcript

Current Market Sentiment

  • The sentiment in the crypto market is currently very low, with many people jumping to the bearish camp.
  • The market is choppy, and it's expected to continue until Bitcoin clears either the range high or the range low.

Market Analysis

  • The top 125 alt-coins (excluding the top 10) are at rock bottom zones, with a massive alt-coin capitulation.
  • The 60-day rate of change oscillator shows that the market has backed down to levels similar to the May 2021 crash and the Terra Luna crash.
  • On-chain metrics suggest that the cycle is not over, and it's probably a good opportunity to buy.

Bitcoin Analysis

  • Bitcoin is currently in a trading range, and it needs to reclaim the range high or lose the range low to determine the next directional bias.
  • The RSI pivot level is a key level to reclaim to initiate a trend.
  • The expectation is that Bitcoin will start to move upwards sometime next week, around February 12th.

Ethereum Analysis

  • Ethereum is deviating from the average bull cycle, and it's underperforming.
  • The ETH/BTC ratio needs to reclaim some key levels to show signs of a major bottom.
  • There are small signs and symptoms that Ethereum may have found a major bottom.

Total Cryptocurrency Market Cap Analysis

  • The total cryptocurrency market cap is still following the average of the post-election years (2017 and 2021).
  • If the total cryptocurrency market cap starts to deviate and breaks back into the Gaussian channel, it would be a sign that this time is different.

Personal Plan for Stage Two of the Crypto Cycle

  • The plan is to concentrate the portfolio and hold a handful of strong coins.
  • The goal is to reduce risk and maximize upside potential.
  • The focus will be on allocating to very strong coins and reducing positions as the cycle progresses.

Hype Coin Analysis

  • Hype coin is showing resilience and holding up well in the market.
  • There are massive increases in stable coin deposits and daily spot flow on the exchange.
  • The chart is holding above the previous mid-range and early open, but it needs to reclaim the $28 level to start moving upwards.

Conclusion

  • The market is currently in a choppy phase, and it's expected to continue until Bitcoin clears either the range high or the range low.
  • The plan is to focus on strong coins, reduce risk, and maximize upside potential as the cycle progresses.
  • Hype coin is showing promising signs, and it's worth keeping an eye on.