YCC Crypto Alpha #50
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
Access 12.5% APY on USDC, risk-free!
YCC portfolio updates
Market tip of the week
Latest market outlook
TLDR: Bitcoin dropped briefly under 90k on Monday, but that turned into a bear trap. The price bounced and is found in a descending triangle. Once Bitcoin breaks away from this formation we will know where it is headed next.
As long as Bitcoin remains above the base of this triangle, at around 91k, my bias is bullish. If so, the expectation is that the price will eventually continue higher. The first confirmation of that will happen when Bitcoin breaks that 102k resistance and flips it into support.
A prudent take would be to wait and do nothing until the price leaves this triangle. If the price moves above it, going long would be tempting, especially above 102k.
On the other hand, if 91k falls, then the price action will turn short-term bearish with the next important support level found at 84k. I view this as a less likely scenario, but it remains possible until this triangle is resolved.
Until then, you can aim to park your cash and farm yields in DeFi. I got an excellent place for that in the next section. Scroll down.
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There’s a place in DeFi right now where you can farm 12.5% APY on USDC, risk-free. That risk-free is as good as you can get in crypto.
The best part?
Anyone using this protocol will be eligible for a token airdrop later on.
Until Bitcoin starts pumping again, this is an excellent place to park your cash and get some nice passive income on it. This protocol is also one of the most reputable in crypto and that 12.5% APY is almost double the rates you find on AAVE!
Sounds exciting right? Let’s dive in.
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