Walking up the mountain gets you farther than running

Aug 25, 2021 • 10 Min Read

Key Takeaways

  • Bitcoin continues to march higher, eclipsing another key milestone and trading above the 200-day SMA. Ethereum is also higher on the week but has met resistance at $3,300. Attention turns to the 50-day SMA.
  • Bitcoin’s recent price run has not been as “hot” as its gains would suggest.
  • Price action has been largely supply-driven and recent movement of coins onto exchanges could present short-term risk.
  • Crypto and meme stocks are on the move this week, presenting an early sign of a risk-on macro environment.
Our team has observed an interesting weekly trading pa...

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Illustrations by Karl Wimer.