YCC Crypto Alpha #13
Our latest community alpha & portfolio updates.
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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
What alts I am buying right now
YCC portfolio updates
Market tip of the week
Market Outlook
TLDR: Bitcoin entered a sustained rally this week and has arrived at the 48k key resistance. If bulls break this level, then the next major target will be the all-time high at 69k. The trend is your friend. Do not short or turn into a bear here.
The inverted head and shoulder that I discussed in Alpha Post 12 was validated this week and as soon as the neckline broke, the price shot up. This pump has sent bears into hibernation. In my opinion, bears have no business returning to this market in 2024 and their time may only come in mid to late 2025.
Buyers are dominating this market and Bitcoin is seeing unprecedented demand from the spot ETFs approved last month. In total, $10 billion worth of Bitcoin (over 200,000 BTC) was bought by the ETFs in 20 days! Hard to be bearish with such a fundamental shift in demand.
If the resistance at 48.5k turns into a support, then the most important target on the chart becomes the all-time high at 69k. The path there is less than a 50% pump from here. That’s not much and any resistance levels left until there are not that relevant anymore.
Keep a close eye on the key resistance as that will determine where this market goes next. My bias is bullish and I see no reason for this momentum to shift bearish, particularly as BTC’s price just left a three months consolidation. That’s a massive bullish signal that could take the price to 69k.
Exciting times ahead!
This will also have a massive impact on altcoins and I’ve already positioned myself on key alts. Lets explore them next.
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What alts I am buying right now
The race is on.
This market is heating up. The Bitcoin halving is two months from now and the ETFs are buying as much BTC as they can before it happens.
With such a fundamental shift in the market, holding good altcoins can mean you outperform Bitcoin! If you choose wisely, you can pull some serious profits by the end of this year.
When that happens, take profit! I already made a guide on that. Altcoins will start pumping by 50% in a day and your biggest threat is going to be greed! Someone has to wake you up to reality.
You’ll think: Why even sell when altcoins are pumping 50% a day? That’s how greed takes over and you never take profit. You end up holding thinking you’re invincible and then lose it all. The market then turns and you missed your window of opportunity.
I’ll be with you every step of the way, but what can help you more is being part of our Patrons Pro group where members help and guide each other in a safe space.
Now lets have a look at my list of altcoins that I’m holding and the ones I’ve recently bought to ride this massive bull market that’s just starting.