YCC Crypto Alpha #61
Our latest community alpha & 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
Top 3 altcoins this week!
Market tip of the week
Latest market outlook
TLDR: Bitcoin is holding well around 95k and appears keen to tap that 100k resistance. However, a pullback to confirm the recent breakout could come first.
This week, Bitcoin consolidated sideways around the 95k level. Buyers tried to move the price higher, but it was always rejected at that level and pushed lower. The longer the price moves sideways, the higher the chance of a rally towards 100k.
However, when the BTC pumped in late April to break above 90k, it left a wide gap on the 4h chart which suggests the price may fall towards 89k first before it makes new highs. See the chart below.
Generally, the price will always return to fill gaps left on the chart since they reflect market inefficiencies. Moreover, the 90k breakout was not tested as support yet. Therefore, there is a good chance BTC will revisit 90k before it breaks above 100k to continue its uptrend.
I expect a resolution on the above within a week’s time. If BTC tests 90k as support, that is a prime buy area before it will smash through towards 100k and beyond.
That’s also a great opportunity to load on altcoins! More on that next.
Top 3 altcoins this week!
In my last alpha update I covered five altcoins. Let’s see how they did since then:
Coin 1: +18%
Coin 2: +17%
Coin 3: +70%
Coin 4: +22%
Coin 5: +35%
They are all in double digits profit a week later. Impressive. This is thanks to Bitcoin and Ethereum also doing well, pulling altcoins into higher highs.
In the coming week, I expect a great opportunity for new profits if you position yourself well. Let’s start.
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