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The Macro Brief
The Macro Brief
Crypto Chart Deck: 11.18.24
Crypto Compass

Crypto Chart Deck: 11.18.24

Meme-mania is back, but is this time different?

Macro Strat Chris's avatar
Macro Strat Chris
Nov 18, 2024
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The Macro Brief
The Macro Brief
Crypto Chart Deck: 11.18.24
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MicroStrategy (MSTR) buys another $4.6b in bitcoin (51,780) at an average price of $88,627 per bitcoin. Michael Saylor’s MSTR now owns 331,200. I'll leave my personal thoughts on Saylor for X, but the primary issue I have with his strategy is he's constantly buying billions worth of Bitcoin at the localized tops of each pop; and it seemingly comes after momentum wanes some.

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Nevertheless, bitcoin - and broader crypto space - remain in strong bullish trend. Miners, such as MARA, continue to trade at a double-digit premium to the range top. While exchanges like Coinbase are coming into line by compresing it's premium.

The trend strength and volatility-adjusted trading range charts for select crypto assets are below.

To access the 75+ trading ranges, across global asset classes, click here.

BTC & ETH
Solana & Avalanche
Doge & XRP
MSTR & MARA
IREN & COIN
RIOT & BITX

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