| Quietly Climbing. Ahead of the holiday weekend here in the U.S., it's quite quiet on the crypto front. BTC is flirting with the top of its price range, alts are chopping, vol is low, Saylor is buying, and crypto remains closely anchored to risk assets. So, fair to say not much has changed.
It will of course, but will you recognize the signal before it does. Ultimately this is the game we're all playing.
For now, bitcoin's outperformance and market dominance remains, price momentum is bullish, and our weekly volatility implied trading range is calculating a series of higher highs and higher lows, week over week. What you want to see, if you're bullish of course.
For my bears... Well, vol is low, puts are cheap. Not my position, but if you're in this camp, downside protection is relatively inexpensive on a 1-year basis. This argument applies to the call side too.
For now I'm adding to BTC on dips and patiently waiting for any side of a move higher in alts.
We're off on Friday, so the Saturday email will likely be light, unless of course there are fireworks into the weekend. | 
