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The Academy

CryptoKeyhole's Academy teaches on-chain analysis, crypto options and order flow in short lessons that run from first principles to advanced reading, each built around our live charts and finished with a short check.

Free, with no account needed. Your progress is kept in this browser.

Reading the chain

On-chain analysis, from what a block is to reading indicators together

10 lessons, about 20 minutesStart with lesson one

Beginner

  1. What the chain records
  2. Addresses are not people
  3. Supply: issued, burned, lost

Intermediate

  1. Realised price: the market's cost
  2. MVRV: value against cost
  3. Long-term and short-term holders
  4. SOPR: are sellers in profit?

Advanced

  1. Exchange balances and flows
  2. Miners and hash rate
  3. Reading indicators together

Crypto options

What options are, how they're priced, and how to read what the market is saying

9 lessons, about 18 minutesStart with lesson one

Beginner

  1. What an option is
  2. Payoffs: what you can win and lose
  3. What's in the premium

Intermediate

  1. Implied volatility
  2. The Greeks
  3. Skew and term structure

Advanced

  1. Open interest and max pain
  2. Dealer gamma and hedging flows
  3. Strategy shapes

Order flow

Order books, who is pushing whom, leverage and how to read them together

9 lessons, about 18 minutesStart with lesson one

Beginner

  1. How an order book works
  2. Makers and takers
  3. Depth and slippage

Intermediate

  1. Volume delta and CVD
  2. Perpetuals and funding
  3. Open interest and liquidations

Advanced

  1. Reading a liquidity heatmap
  2. Absorption and imbalance
  3. A workflow for reading the tape

After one indicator rather than a course? The indicator guides explain each one with its live reading.