Your Top Crypto Alpha #70
What's the best crypto alpha this week?
These posts are your gateway to our exclusive market alpha, top coins to watch, and latest technical analysis. They also keep our YCC Patrons ahead of the curve.
Here is this week’s curated alpha:
Latest Bitcoin price forecast
Top three altcoins to watch today - big buy opportunities have arrived!
Market tips of the week
Latest Bitcoin price forecast
TLDR: Bitcoin is re-testing its breakout at around 112k. As long as the price does not close inside the blue triangle on the weekly timeframe there is no reason to worry.
As mentioned in my last update, Bitcoin did decide to test its breakout from early July. This pullback is ongoing as I write this.
Hopefully, buyers return here to hold the price just above 112k. We do not want the price to fall lower and close under that level as that could be a sign of weakness that will encourage sellers further.
If you’re bullish like me in the next couple of months, then you could consider entering around this area and keeping some cash just in case Bitcoin spikes lower than 112k. Having some limit buys ready seems like a good idea, just in case.
Buying here makes sense if you feel underexposed or missed the windows under 100k that we had in June. If you already loaded up in June, sit tight and enjoy the show. Bitcoin will go higher based on most indicators. Just be patient.
This pullback also opens up an opportunity to load up on some juicy altcoins that are now providing good entry levels. Let’s explore the best ones next.
Top three altcoins to watch today - big buy opportunities have arrived!
Ethereum is correcting, XRP is correcting, Cardano is correcting. Most altcoins are in a downtrend right now after rallying quite hard in June - July. This is normal.
Exercise patience here with such coins.
However, back in June - July, other altcoins were in a correction while the rest of the market was pumping. Because of that, these coins look primed to pump and deserve our attention today.
One such example is RAT Escape, our community meme token. I’ll use this as an example to explain my point before I dive into the other altcoins. As you can see, RAT is up 53% in the past week while most alts are in red.
Most of the market moves in sync, but some altcoins move faster or slower depending on their individual up/down cycle. Taking into account the individual cycle of a particular coin is important. Don’t dismiss it!
You can see the complete RAT price action since launch in the below image to illustrate this point which I explain next.
I am bullish on RAT because it completed its correction back in April and is now found at the end of a flat consolidation. This normally precedes a new major rally which I expect to happen whenever the price breaks above $1.5M market cap (D-Day in the picture).
With clear higher lows, the price is moving closer to $1M market cap as I write this. Considering its size, it won’t take much to push RAT over the $1.5M breakout point. After that, it is anyone’s guess how high it goes. Last time, RAT hit $16M.
I already discussed the above price action with our members on Discord. Make sure you’re on our server to not miss any live discussions about RAT Escape and other coins.
Having said that, let’s move to the top altcoins I have my eyes on right now.
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