Your Top Crypto Alpha #64

What's the best crypto alpha this week?

These posts are your gateway to our exclusive market alpha, top coins to watch, and latest technical analysis. They also keep our YCC Patrons ahead of the curve.

Here is this week’s alpha, specially curated for you:

• Latest Bitcoin price forecast

• Top 5 altcoins this summer

• Market tips of the week

This newsletter is sponsored by the Olympics App, a competitive SoFi platform on Base network where teams engage in virtual sports competitions!

TLDR: Bitcoin started a correction after making a new record price at $112k. This is nothing unusual considering it went up only since early April. Best to give this a a week or two to settle before turning bullish again.

After seven consecutive weekly candles closed in green, Bitcoin has finally decided to take a pause. The price found a local top at $112k and is now bound to hit at least the support at $102k or even as low as $91k (see the chart).

In my opinion, a price between $102k and $91k is likely for this correction. This is because a lot of traders have a stop loss in that range and will likely be hunted and liquidated. That provides you with an excellent entry point for the next pump.

If you are bullish on Bitcoin, this will probably be the last chance to buy under six digits before the next major rally towards 150k and beyond. I remain bullish on Bitcoin as long as it stays above $90k.

I recommend you add limit buy orders under 100k since a wick towards 91k is quite likely. You want to catch it when it happens. If you want to wait longer, you can park your cash in this protocol I covered in my last alpha post for some juicy yields.

This correction is also a perfect time to load up on high conviction altcoins with the expectation that this summer they will print. I also spoke of that here. Let’s look at my top 5 altcoin picks below.

After this correction is over, I expect Bitcoin to rally hard and top sometimes this year. I also maintain a bullish bias for this summer with a good chance we get some nice pumps across outlier altcoins.

Before I speak about my top altcoins, I want to stress an important point. The altcoin market is in a rough spot. Most institutional money is flowing into Bitcoin ONLY. Moreover, in this crypto cycle, profits made on Bitcoin are not rotating out into altcoins. They stay in Bitcoin!

With greater and greater number of altcoins, you need to spend extra time choosing your bets in this space. Bitcoin is the default choice, and probably the best in terms of risk/reward. However, a few altcoins still stand out. What do they have in common? They made an all-time high, like Bitcoin.

Let’s look at them next.

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