YCC Crypto Alpha #01
Our latest community alpha & portfolio updates.
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These posts are your gateway to our latest market alpha, top coins to watch and community updates. They also keep our busy Patrons happy and informed.
This issue covers:
Duo’s current market outlook
Top three altcoins to watch this week
YCC Fund portfolio updates
Community news & updates
Market Outlook
TLDR: High timeframes remain bullish (weekly to monthly), but on daily timeframe a correction appears likely. This may be an excellent entry.
Bitcoin has successfully touched the 36k resistance level at the end of October. I’d be surprised if BTC breaks higher without some correction. The daily MACD also did a bearish cross which seems to suggest some downside potential.
What concerns me most is the gap on this chart since the price loves to revisit such levels. When BTC pumped from 30k to 35k in one day it left this huge gap on the weekly chart. See it below.
What this means is that a drop towards 30k is likely if buyers fail to break the resistance at 36k soon. That could be a great opportunity if you are looking to accumulate Bitcoin before the bull market. Hoping for BTC to fall under 30k seems unlikely right now. At best, there is a slight chance for 28k. But that’s it.
Top Three Altcoins This Week
Spectacular move this past week on several altcoins from our top picks list. They pulled double digits gains in a short time. The market is giving excellent opportunities and you need to be ready to grab them. Below the altcoins to watch.