3 Charts to Confirm the Crypto Bull Season

Crypto Rand
7 min readJul 31, 2023

Get Ready

Another fairly slow week for crypto last week as BTC grinded below the range. This week I thought I would share 3 charts to watch to confirm if we’re getting an alt season. IF these provide confluence together its time to go hard into your favourite shit coins.

  1. This one looks poised for a breakout here after grinding down into the support zone highlighted. You could also look at this and say we’re in a massive inverse H+S so out of all the charts in crypto right now I would say this is the most price action positive.

2. Super important chart as we could go either way here. The chart is in a clean H+S here, sloping to the upside so we do need to be wary. This is pretty simple — IF we break above the recent high then it looks like a H+S breakout to the upside… However if we can break below this would be a great risk on signal.

3. In a clean up trend so we can’t fight it at this stage BUT if we can breakdown as shown below then I think this is a great signal for Alt strength.

Simple as that 😊

Coinbase told to delist all cryptocurrencies except Bitcoin

Coinbase CEO, Brian Armstrong recently revealed in an interview with the Financial Times that the U.S. Securities and Exchange Commission (SEC) asked Coinbase to halt trading in all cryptocurrencies except bitcoin before suing the popular cryptocurrency platform. According to Coinbase CEO Brian Armstrong, complying with this request would have meant the end of the crypto industry in the United States. The SEC accused Coinbase of operating illegally by not registering as an exchange and trading unregistered securities. When Coinbase asked for the legal reasoning to delist all cryptocurrencies besides Bitcoin, the regulator reportedly said “we’re not going to explain it to you; you need to delist every asset other than Bitcoin.”. Clearly the SEC have been overstepping their authority within the markets and was the legal case a scare tactic all along? How long can Coinbase continue to deal with these kind of issues, operating from the US.

Worldcoin launches by founder of ChatGPT

New project WorldCoin launched last week and made quite the impression. The project is founded by the ChatGPT founder Sam Altman and has caught the attention of many in the crypto space… for good reasons and bad. The native token, WLD launched impressively with double-digit gains, peaking at around $3.50 per coin. However, many are concerned about WLD’s circulating supply, as only 1% of the total supply is currently in circulation, leading to a fully diluted market capitalization exceeding $35 billion at the peak. Nevertheless, the token has garnered significant attention, with major exchanges like Binance, Bybit, Huobi, OKX, Gate.io, and KuCoin listing it, and 24-hour trading volumes exceeding $348 million. The project is aiming to create a world ID where users can scan their retina data to receive a token airdrop… I don’t know about you but that is a little too much new world order for me.

Coinbase Layer-2 BASE has its own memecoin frenzy

Coinbase’s BASE protocol has seen its own mini memecoin mania, the BALD coin has taken the Coinbase Layer 2 Blockchain by storm, skyrocketing to unprecedented heights and gaining over 4,000,000% in a few short days. Following on from that success, we already have another, HAIRY coin, which is rumored to be associated with the same team behind BALD. In just four hours, HAIRY has surged an astounding 8,000%, likely with speculations around that it could replicate BALD’s staggering gains. As the mystery around BALD’s creators deepens, their possible connection to Coinbase has been suggested, adding to the intrigue. With both coins continuing to make headlines, could this be the start of memecoins on base? Possibly it was the Coinbase team who created these as a killer marketing strategy? Or are these just degens, the name ‘bald’ seems to be a nod to Coinbase founder Brian Armstrong.

Missing crypto millionaire found… in a suitcase

A chilling and tragic story has emerged from Argentina, where a missing cryptocurrency millionaire and popular Instagram influencer, Fernando Pérez Algaba, was found dead in a dismembered state inside a suitcase. The police suspect murder and believe it might be the work of a professional outfit, possibly debt-related but questions around whether it was a crypto robbery remain. Algaba, the prominent crypto trader with a substantial Instagram following, was identified through fingerprints and tattoos after the gruesome discovery. The incident is a stark reminder for crypto traders and investors as to the risks of self custody. Unfortunately this isn’t the first incident of it’s kind, with co-founder of MakerDAO also meeting a mysterious end at the end of last year.

Embracing Emotions in Trading

In the ever-evolving landscape of trading, there’s a timeless adage that echoes across generations: “Be emotionless as a trader.” Yet, as you venture deeper into the realm of the markets, you are gonna realize that this advice is not as straightforward as it seems. Behind those words lies a profound truth that we must uncover: it’s not about abandoning emotions but learning to harness their immense power to our advantage.

As human beings, emotions are an integral part of our lives. We feel joy, fear, excitement, and anxiety, often without conscious control. In trading, emotions can be a double-edged sword. They can fuel us with passion, but they can also lead us astray with impulsive decisions. The key lies in understanding that emotions are not to be suppressed, but rather embraced as vital components of our decision-making process.

Take a moment to reflect on the social media feeds of traders worldwide. You’ll witness triumphant posts, rejoicing over profitable trades, only to realize that these moments often coincide with market peaks. Similarly, when markets experience extreme highs or lows, we encounter overwhelming euphoria or pessimism from traders across the globe. It’s as though an invisible force shapes the collective mood and influences market movements.

Yet, let’s dispel the notion of a mystical market deity dictating our fate. The truth is that these emotions arise naturally in countless traders worldwide. If you’re feeling a certain way about a trade, it’s highly likely that thousands or even millions of others share the same sentiment.

However, this realization opens our eyes to a powerful truth: emotions can be our compass in the markets. Rather than suppressing them, we can use them as guiding tools. As you navigate the market waters, stay attuned to what the market is trying to make you feel. But don’t stop there; go deeper by understanding the emotions of the average market participant.

Imagine a world where emotions and technical analysis unite to form a seamless strategy. This is emotional game theory in action, a synergy of logic and intuition that often outperforms rigid mathematical models. Predicting what the majority should be feeling can offer invaluable insights into potential market movements, allowing you to anticipate shifts in trends and identify promising opportunities.

For example, picture a scenario where prices unexpectedly surge after a drastic decline, coinciding with major news of major affecting global crypto platforms, like lately with the SEC and exchanges and projects facing regulatory challenges. The instinctive reaction for many traders would be fear and anticipation of further declines “that’s it. It’s going to 0, Crypto is dead. etc”. Yet, against all odds, prices reclaim a crucial daily level and from there it goes in a strong rally unexpectedly.

The key to capitalizing on such moments is blending your technical analysis with emotional cues. Acknowledge the technical factors that signal potential opportunities, and let your emotions guide your supplementary analysis. This dynamic approach can lead to profitable trades that might otherwise be overlooked.

To be a phenomenal trader, it’s essential to understand your inner workings and emotions intimately. Rather than letting them work against you, leverage their power to your advantage. You are not just a trader; you are a navigator of markets, capable of seamlessly blending technical and emotional planes of analysis to create your unique trading strategy.

Reaching the pinnacle of trading mastery is not solely about spending time in the market. It’s about cultivating the ability to instinctually “feel” the setups. Experienced traders often speak of relying on gut instincts, and the truth is that they have honed their emotional intelligence and integrated it into their trading approach. The result is a finely-tuned, proprietary blend of analysis that aligns with their individual trading styles.

So, embrace the power of emotions in your trading journey and unlock the untapped potential within you. Remember; GUT FEEL is your guiding light. It symbolizes the harmony between intellect and intuition, an alliance that elevates your trading to new heights. Let your emotions empower you, as you navigate the markets with confidence and wisdom. Embrace the journey, embrace the emotions, and unleash your trading potential like never before.

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Crypto Rand

Investor & Trader. CEO of Blockground Capital. Based between Andorra and Bangkok.