YCC Crypto Alpha #07
YCC Crypto Alpha #07
Our latest community alpha & portfolio updates.
No time to scroll on X or Discord? I got you covered!
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
Top buys and plays for 2024
YCC portfolio updates
Market tip of the week
Market Outlook
TLDR: Major bearish cross on the 3-day MACD. If buyers don’t return soon, Bitcoin may drop below its pennant. That would signal discounts are ahead. Make sure you have cash ready for this possibility.
Bitcoin appears to end the year at a cross-road. It has formed a large pennant which gives conflicting messages. On one side, this could be interpreted as a continuation of the existing uptrend, and on the other, it shows indecision in the market.
However, momentum indicators give us a clear bearish bias. The daily MACD is bearish, but the one that concerns me is on the 3-day timeframe. It just did a bearish cross. That’s significant. Who do you trust? The bull market macro or the momentum?
A healthy correction would be welcomed and provide you with a great entry. Ideally, a drop of around 20% would be a lifetime opportunity right now before the Bitcoin ETF madness starts in 2024. If BTC falls to 38k or lower, that should be an instant buy.
Either way, use this pennant to guide your analysis. Price breaks above it? Buy the breakout. Price breaks below it? Buy the discounts. Until Bitcoin reaches six figures in 2024, I remain quite bullish on it with the expectation that any buys under 50k have a good chance to double your money later on.
It’s a bet I’m willing to take. As usual, this is not financial advice. You money, your call. Now lets focus on 2024 and how you can position yourself best.
Top buys and plays for 2024
Before I give you the juicy alpha, I want to extend a big thank you for the show of support this newsletter and community has received in 2023. I also wish everyone a wonderful new year celebration and a great start in 2024!
This past year in crypto was just an appetizer and the main course is about to be served in 2024. Get ready for some crazy times ahead, I will be right besides you.
The time to position yourself is growing narrower and this may be the last chance you get, particularly if BTC breaks below its current pennant. Now lets explore my top plays for 2024.