YCC Crypto Alpha #57
Our latest community alpha & updates.
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This issue covers:
Latest market outlook
Bullish cross on 5 key altcoins!
Market tip of the week
Latest market outlook
TLDR: Bitcoin found good support above 80k and kept its uptrend intact. However, volume remains weak. Will buyers have the strength to push the price higher or not?
In the past two weeks, Bitcoin bounced on the below trendline which maintained its uptrend intact. The coming week will likely be decisive on where the price goes next. Buyers can maintain an upper hand as long as the support at 80k holds.
On the other side, sellers may have an opening to push the price under 80k if volume remains low. If so, the bias will turn bearish with this level likely to turn into a key resistance in the future.
The current price action is not a place where you want to take high conviction bets because Bitcoin can easily go in either direction from here.
I would become more bullish if the price takes more distance from the 80k support. Ideally, you want to see Bitcoin move above 90k soon. Keep a close eye on that trendline as it will be decisive on Bitcoin’s future price action.
On the altcoin front, we’re getting some early signals that this could be a key pivot for buyers to return. Let’s look at that next.
Bullish cross on 5 key altcoins!
While Bitcoin decides its next steps, multiple altcoins are about to end their major correction and may be preparing for a rally. A good example of that is Ethereum. It has been in a downtrend since late December 2024 and could reverse here.
Moreover, ETH just made a bullish cross on the 2-day timeframe. That’s a first in months! The good news is that multiple other altcoins are doing the same.
Ethereum remains a good proxy for a majority of altcoins. If this trend is sustained in the coming weeks and Bitcoin does not fall under 80k, we have a great opportunity for profit on the table!
In what follows, I’m looking at five altcoins that are in a similar position to Ethereum and may have a good shot at a rally soon. In my last Alpha Post, I also covered five altcoins with one booking an impressive 30% rally since then!
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