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Hello and good evening! 

This weeks update is very similar to last weeks.

I wrote that "When $BTC is stable, without any significant moves, ALTS usually get spikey." 

That's exactly what happened with 2 of our ALTS within the GRAZZP portfolio. They outperformed the market very well: $SKL +42% and $SNX +21%. I just sold them and bought more BTC, just to make sure we are not giving it back to the market. 

let's proceed to the 1D BTC chart. 

How does the chart look like today?

The chart looks bullish. Price did correct a bit, and is moving to the red box. I still expect BTC to correct a bit more, before hitting the red box. 

Why do I think that?

Ichimoku;

Cloud is green

Price is above the green cloud

Price is above the red line

Lagging span (green line) is above the green cloud 

RSI;

Just below 70% and it did not pass the 50% level yet. Its now not really "overbought", but the needed correction before giving it a strong next push, did not happen yet. 

What could be the Target?

Because of the small correction i changed the Elliott Wave count and placed the green 4th leg just below 34.800 dollar.

Preferably i would like to see a retest to at least 33,4K, but hopefully a bit deeper to 32K dollar and then up to +- 40K. 

What does this mean for GRAZZP™ Strategy?

We stepped fully into ALTS last week, because $BTC was stable and ALTS looked prime to pump. Now i can't find any clear ALT Longs. $BTC is still looking very strong nevertheless, therefore I increased $BTC.

As you know, I'm always keeping an eye on $BTC. If it shows weakness, or hits the red box, I will sell most ALTS to take profit and try to buy back cheaper.  

Over the past 73 days, we've witnessed a significant increase in the value of $BTC, with a 57% increase from the low of 15.5k to the current high of 24.2k. 

This uptrend has allowed Bitcoin to exit the descending regression channel and trade along the upper boundary of the new channel drawn from the low. 

However, analyzing past market movements, I see a strong possibility of a future retest of the channel's lower bound. The high degree of slope of the linear regression only strengthens my view. 

With the moving averages and range highs above, I remain cautious.  

I left the market in early December 2021 when bitcoin was around 50,000. I am not yet feeling any pressure from FOMO.

Instead, I start looking for sound setups, especially in alternative cryptocurrencies, before making any decisions.

I got my eyes on $ATOM, $FTM, $XMR, $SUSHI, $GNT, $ANT, $SNX, $DYDX, $DOGE, and of course $ETH

I hope you don't find the attached chart too confusing. I tried to give some "historical context" using past regression channels.

As always, these are just my personal thoughts and shouldn't be treated as financial advice.

Cheers!

Rebalancing @LongTerm portfolio to bring asset allocation in line with our medium to long term goals. Our $SNX play had a SCORCHING hot run -- offloading a bit of $SNX, +$CRV and -$LINK .

$SNX enables swaps of any size almost without any slippage, as well as creation of tokens that can track the value of any asset (stocks, ETFs, indexes, commodities, cryptocurrencies, etc). $SNX has generated $11M of revenue in the last month. @LongTerm  remains bullish in $SNX for the foreseeable future.

Our other main plays are $FXS and $CVX. It goes without saying that we are maintaining $ETH position.

$SNX enables swaps of any size almost without any slippage, as well as creation of tokens that can track the value of any asset (stocks, ETFs, indexes, commodities, cryptocurrencies, etc). $SNX has generated $11M of revenue in the last 30 days and remains our current largest allocation. @LongTerm remains bullish in $SNX for the foreseeable future.

Our other main plays are $FXS and $CVX and goes without saying that we are maintaining $ETH position.