Good morning everybody.
Check Craig out at:
Market Intern: https://marketintern.com/
The Grow Me Co: https://www.thegrowmeco.com/
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Last week turned out to be a good trading week, especially on the lower timeframes. While Bitcoin spent another week grinding sideways, several altcoins produced clean, cyclical trends that offered solid trading opportunities.
One of the best examples was XRP. The daily chart looked relatively uneventful, but dropping down to the lower timeframes revealed a series of higher highs and higher lows that produced exactly the type of market structure Craig Cobb looks for. Those trades played out particularly well over the weekend, even while Bitcoin continued moving sideways.
Craig also credited Market Intern for helping identify several of those opportunities while he was away fishing, allowing him to quickly scan the markets without having to sit in front of the charts all day. For those who aren’t already subscribers, Market Intern is currently offering a 7-day free trial, giving traders the opportunity to test the platform before committing.
Bitcoin Remains Range Bound
Despite last week’s positive close, Craig isn’t changing his outlook on Bitcoin.
The market continues trading inside a well-defined range, with resistance around $65,000 and support near $59,000. Until one of those levels breaks, he expects more sideways movement rather than the beginning of a new bull market.
Bitcoin finished last week up nearly 6.8%, prompting plenty of traders to declare that the bottom is finally in.
Craig isn’t buying it.
He says a single strong week doesn’t change the broader trend, and he still hasn’t seen either the capitulation event or the trend reversal that normally signals the end of a bear market.
Why Craig Isn’t Buying Bitcoin Yet
Craig continues focusing on two factors: time and price.
Historically, Bitcoin bear markets have followed recognizable cycles. While no cycle repeats perfectly, Craig believes the current market still hasn’t reached the point where previous bear markets have typically bottomed.
Looking at the monthly chart, Bitcoin continues making lower highs and lower lows despite this month’s bounce.
Until that larger trend changes, Craig remains comfortable sitting largely in cash while continuing to trade shorter-term opportunities as they appear.
He’s not trying to predict the exact bottom.
He’s waiting for the market to prove one exists.
Altcoins Continue Showing Mixed Strength
Bitcoin may be moving sideways, but several major cryptocurrencies produced notable moves last week.
Cardano was one of the strongest performers, climbing roughly 31% for the week after an extended decline. Solana also showed relative strength, while XRP delivered one of the cleaner trending markets on the lower timeframes.
That doesn’t necessarily mean the broader bear market is over.
Craig points out that many of these moves are occurring within longer-term downtrends, making them trading opportunities rather than long-term investment signals.
The Dollar Still Matters
One chart Craig continues watching closely isn’t crypto at all.
It’s the U.S. Dollar Index.
The dollar remains in a clear uptrend after breaking higher and is now pulling back into what Craig considers a healthy technical setup. If the Dollar Index resumes moving higher, it could continue creating headwinds for equities and other risk assets, including Bitcoin.
At the same time, the S&P 500 has entered a period of consolidation after a strong run.
Craig believes the next move in the dollar could provide an early signal for where broader markets head next.
Trading What’s Available
Rather than forcing trades in Bitcoin, Craig continues focusing on markets that are actually producing clean technical setups.
He currently has a position in Aave while monitoring several other cryptocurrencies for potential opportunities, but says quality setups remain limited overall.
His message remains consistent.
Trade what’s in front of you.
Don’t force trades simply because you want to be in the market.