G’day everybody.
Bitcoin spent another week doing exactly what it’s been doing for the past month: slowly grinding lower without giving traders much to work with.
Craig was right last week when he said Bitcoin looked likely to move lower. The problem is that it didn’t move very far. Instead of a decisive selloff, the market continues drifting between roughly $59,000 and $65,000, leaving traders stuck in the middle of a range with very little momentum.
The good news? If that range finally breaks, there could be plenty of opportunity.
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Bitcoin Continues Its Slow Grind Lower
Last week, Craig said Bitcoin looked likely to continue moving lower.
That’s exactly what happened.
The issue is that the move lacked conviction.
On the daily chart, Bitcoin continues making lower highs and lower lows, but each move has been shallow. Instead of trending, the market has spent weeks slowly drifting toward the lower end of its range without creating the kind of momentum traders want to see.
Looking at the weekly chart, last week’s candle closed down roughly 2.8%, leaving a bearish candle sitting inside the cradle zone. A break below last week’s low would significantly increase the probability of another move toward the bottom of the current trading range.
Right now, Bitcoin is sitting almost perfectly in the middle.
That isn’t where Craig wants to be trading.
He wants either a clear breakdown or a convincing reversal.
Lower Time Frames Still Look Messy
One of Craig’s biggest frustrations continues to be the lack of alignment across multiple time frames.
Normally, when the four-hour chart trends cleanly, it feeds into the daily chart, which then creates opportunities across shorter time frames.
That simply isn’t happening.
Most of the market continues chopping sideways, leaving the daily, twelve-hour, and sixteen-hour charts as the only time frames showing any meaningful structure.
Until shorter-term trends begin aligning with the higher time frames, quality trading opportunities will remain limited.
Cardano Is Beginning to Stand Out
While much of the market remains directionless, Cardano has started separating itself from the pack.
Cardano gained roughly 14.2% last week, making it one of the stronger performers among the major cryptocurrencies.
Craig likes what he’s seeing on both the four-hour and eight-hour charts. The trend has shifted higher, pullbacks remain orderly, and he’s watching for another bullish candle in the cradle zone before considering additional long positions.
For now, Cardano is one of the cleaner technical setups available.
Hyperliquid Continues Building a Strong Downtrend
On the opposite side of the market, Hyperliquid remains one of the better short opportunities.
The token fell approximately 11% last week, continuing a well-defined series of lower highs and lower lows on the daily chart.
Craig would like to see either another clean pullback that creates a fresh short setup or a decisive move lower that opens additional opportunities on shorter time frames.
Compared to many other major cryptocurrencies, Hyperliquid continues showing much stronger directional movement.
Most Major Coins Remain Stuck
Outside of Cardano and Hyperliquid, there isn’t much excitement.
Ethereum continues hovering around previous resistance with little follow-through.
BNB barely moved.
Dogecoin remains sideways.
Solana still holds a daily downtrend but lacks momentum.
XRP continues drifting lower without accelerating.
Tron has gone almost nowhere.
Bitcoin Cash remains one of the flattest charts in the market.
Even the broader altcoin market has struggled to generate sustained movement after one brief selloff during the week.
Craig Still Wants Lower Prices
Craig remains comfortable sitting in cash.
He believes the market has not yet reached the ultimate lows of this cycle and would actually welcome a stronger decline.
There are two reasons.
First, strong downtrends create better trading opportunities.
Second, lower prices provide much more attractive levels for long-term accumulation.
Until Bitcoin either breaks down or proves it can establish a convincing uptrend again, Craig sees little reason to become aggressively invested.
Sometimes the best trade is simply waiting.
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Happy Hodling, Everyone.
