In this edition of the trade letter, we will discuss the following altcoins: WOO, LINK, and UNI.
Altcoins Bull Cycle As XRP Wins SEC Lawsuit!
In this update we'll dive into the markets of altcoins, as those have been on a blast through the latest news on XRP winning the SEC lawsuit. We'll be diving at a complete overview of the markets of altcoins and we'll discuss a few specific altcoins that we can focus on.
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This needs to happen to reach 32K!
This needs to happen to reach 32K! Consolidation on consolidation on consolidation. In 2023, all markets are actually performing very well, and we see a continuous rise in the world of traditional finance (tradfi). Of course, crypto hasn't performed poorly either, as we've been in a strong uptrend since January. However, the market is simply challenging to maneuver, especially when it comes to the lower timeframe. We observe long periods of sideways price action, followed by explosive upward price movements. Currently, we are still in a consolidation phase, but personally, I believe that we can still see higher prices in the midterm. But what needs to happen to see higher prices for BTC and the overall cryptocurrency market? We'll make this clear by presenting the high timeframe picture in today's trade letter. Enjoy reading!
Altcoin Fiesta With Chainlink Breaking Out?
Recently, the markets have started to wake up as Chainlink broke out after the CCIP release. Earlier, XRP and XLM started their momentum and broke out of their downtrend. In this update we'll discuss whether other altcoins are going to follow suit.
The Week of Truth
Bitcoin remains in its consolidation range for over a month now, trying to bore everyone out of the market. FOMC this week could be the catalyst for a break in either direction. Beware of pre-FOMC volatility. Once price starts moving, it will likely be swift, like we have seen several times since the beginning of this year.
FOMC Day! This is how I'm going to play it.
In this newsletter, I will present the scenarios I expect for BTC and how I plan to anticipate the event.
Altcoins Awaiting Bitcoin Decision? Altcoin Friday!
The past week has been extremely boring on the markets, as Bitcoin didn't provide an upwards breakout. Apparently, confirmation needs to come from the King of crypto to make sure that altcoins are actually making that upwards move. What's next?
Strong Economy + Strong Stock Market = Weak Bitcoin?
Market sentiment seemed to receive a positive boost from a series of mostly favorable economic indicators, particularly related to inflation. On Friday, stocks opened with significant gains after news broke that the core (excluding food and energy) personal consumption expenditures (PCE) price index, which is the Fed's preferred inflation gauge, had risen (only) 0.2% in June, down from 0.3% in May. This resulted in a year-over-year increase of 4.1%, slightly lower than expected, and the slowest growth since September 2021. Additionally, the employment cost index, closely monitored due to concerns about wage inflation among policymakers, rose 1.0% in the second quarter, also falling below consensus and marking the smallest increase in two years. But unlike the strength in the stock market, Bitcoin remained weak.