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
Altcoins pump as narratives shift
YCC portfolio updates
Market tip of the week
Market Outlook
TLDR: Bitcoin is holding strong above 50k and any dips are for buying. As long as this bull market lasts this won’t change and bears will get burned trying to time the top. Bias remains extremely bullish on higher timeframes.
Bitcoin dropped towards 50k on Friday and some traders on X opened shorts. A few hours later, the price bounced and they were underwater. Avoid shorts in a bull market as you are picking the lesser trade in terms of probability.
If you look at the chart, Bitcoin appears to be consolidating above 50k in a range. This can also be a time correction. Instead of the price falling like in a price correction, the price moves sideways and your cost is losing time without any significant gains. However, any correction won’t last in a bull market.
Watch closely the current price range. As soon as BTC breaks above it, expect a new rally to start. A drop under 50k would likely lead to a re-test of the key support at 48k. That would turn into a buy opportunity as well. However, it appears less likely considering demand for Bitcoin continues to increase.
Altcoins pump as narratives shift
While Bitcoin is taking a well-deserved break from new highs, the altcoin space has been pumping. One of the biggest narratives emerging right now is in the Ethereum ecosystem. I made a detailed post about that and it can generate huge profits if you position yourself well and have a bit of luck, but read the risks!
That is not the only new narrative. In Alpha Post 14, I mentioned to keep an eye on UNI by Uniswap. And surprise, surprise. This week, UNI pumped 50% in a few hours after a new proposal was made to share the protocol revenue with its token holders.
Suddenly, any related protocols pumped, including AAVE. Two weeks back, I told our Patrons Pro to look into AAVE as it was at $85 and the correction was over. Since then, AAVE reached $103 or a 20% return!
Being early and in the right groups in crypto makes a huge difference. You are welcomed to our discord if you are not there already and all Patron roles are for life once granted. I recommend the Unlimited plan to enjoy our Pro channels.
This bull market still has around 10 to 18 months left. Plenty of new opportunities should emerge in that time (and traps). In what follows, I share other key narratives and altcoins that you should pay attention to in the following months.