YCC Crypto Alpha #37
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:
Latest market outlook
When to FOMO into alts?
YCC portfolio updates
Market tip of the week
Latest market outlook
TLDR: Bitcoin dropped again to 52k and is currently re-testing the lows from early August. If the price manages to make a higher low, there are reasons to be optimistic. Next week, we will find out what Bitcoin decides.
The current re-test of the lows from early August came quite late and after a fake pump to 64k. That misled a lot of market participants that got trapped after going long in late August.
There is good support at 48k, but a fall to those levels would make a lower low. That would only re-confirm the bearish trend and see sellers encouraged to push harder still.
This is why the coming week is critical. Bitcoin has to make a higher low to remain optimistic. Lets hope for the best, but always prepare for the worst. That’s the only sound approach if you’re playing in the crypto casino.
Speaking of the crypto casino, lets look at altcoins next and when you should FOMO into them.
When to FOMO into alts?
Buying altcoins in this cycle was mostly a trap. Yes, you could have booked some good returns, but this only applied if you sold! Anyone that held for too long was sent back to his entry price or in the negative.
The reason for that is quite obvious when we look at the most important chart in crypto. Luckily, this same chart can also provide you with an excellent signal on when to FOMO into altcoins. Let’s look at that in more detail.
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