👀 For the first time in 5 months...

GM everyone. This is 2036.

You’re getting this email at an unusual time - because today is an unusual day.

A few hours ago— for the first time in five months— Bitcoin broke out of its downtrend by making what we all call ‘a higher high.’

This is a pretty big deal to a lot of people.

Let me explain (super) quickly.

As you know, the last six months have been harsh.

• Every time Bitcoin moved up, it moved up less than the previous time (lower high)

• Every time it moved lower, it moved lower than before (lower low)

You can see this clearly in this chart:

But now, it looks like Bitcoin’s lower highs and lows are over (it crossed the red line in the chart 👆).

Now, you might be thinking— these are just squiggles on a chart. Why is this a big deal?

Because people care immensely about short-term price movements. Key points on charts influence sentiment more than you think.

And if enough people believe the downtrend is over, it can easily become a self-fulfilling prophecy.

Movements like these historically tend to signal the beginning of a new uptrend 📈

In our case, it could mean Bitcoin (and the rest of crypto) is finally off the races again.

We’ll no longer need faith, only charts to make us feel positive again.

Of course, this doesn’t mean we’re 100% out of the woods.

Some traders operate on different timeframes and think BTC needs to cross $68,000 before a sustained uptrend happens.

Others think we’re just in for another trap and that too much uncertainty over the outcome of the US election will prevent crypto from breaking out.

No one knows.

But in an asset class that on average goes up and to the right, it pays to be a long-term optimist.

And optimism is incredibly infectious.

Making a new higher high has re-ignited the animal spirits we needed in crypto. Though nothing is guaranteed, I hope it stays that way.

If Bitcoin closes September in the green… then it’s time for Uptober.

I’ll be at Oktoberfest next week, so there will be no newsletter.

But pay attention to how memes - WIF, POPCAT, DOGE, SHIB, etc. - move in the meantime.

Against all odds, they’re the best indicator of risk-on sentiment and still the strongest part of the market today.

• How and when should you take profits?

• What does an ideal crypto portfolio look like?

• What are the best tools and platforms to use?

• How do you manage your psychology along the way?

• What are the biggest mistakes everyone makes that you should avoid?

  • Get these answers (and many more) in Enter, Earn & Exit, my 2024 blueprint for investing in crypto. Get $100 off using code ‘2024’.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.