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These posts are your gateway to the latest market alpha, top coins to watch and our community updates. It also keeps our busy Patrons happy and informed.
This issue covers:
Latest market outlook
Two passive crypto investments you can’t miss
YCC portfolio updates
Community news & market tip of the week
Market Outlook
TLDR: Bitcoin is about to close seven consecutive weekly candles in green. Historically, a correction follows after such a performance. Be on guard!
The market is approaching a cross-road as Bitcoin’s price is compressing before its next big move. As you can see in the below chart, the last three weekly candles have a very narrow body. That usually happens before a major move.
Moreover, it is extremely rare for Bitcoin to close seven consecutive weeks in green. I’d be surprised if this continues for another week or two. Eventually, sellers will return to end this trend.
In an ideal scenario, Bitcoin rallies to 42k and then enters a significant correction towards 32k. This would be the perfect set-up to prepare for higher highs in early 2024. If you have any cash, you can wait for this possible correction to deploy it.
Two passive crypto investments you can’t miss
The crypto market can be overwhelming and demand a lot of your time. This is why I am sharing below two passive investment methods where you can track the market without having to babysit your portfolio.
It’s super easy to do and you get exposed to over 70% of the market without lifting a finger. Think of it like the S&P 500 of crypto. You buy and forget. However, you also have to sell to secure those profits. I covered that in more detail here and in my market tip of the week at the end.
Time to dive in.