Welcome to this week's edition of our crypto newsletter! We're excited to share with you the latest insights and tips to help you make informed decisions on your investments.
Bitcoin Update: Bitcoin is still looking strong on the weekly chart, at a very similar level to last week. However, on the daily chart, there are a couple of take profit signals, and the money flow is still undecided. For Bitcoin, it's better to wait for a possible correction to accumulate more, and if that doesn't happen, consider buying if Bitcoin closes above $29K, targeting $31K.
Check our latest video analysis on bitcoin for this week:
2. Ethereum Update: Ethereum remains promising, with no significant movement compared to last week. We're waiting for a break above the red resistance line to increase our positions.
Market Caution: With Bitcoin showing two take profit signals and an undecided money flow, and Ethereum not yet confirming the resistance break, it's essential to be cautious and prepared for a possible correction.
Trading Strategies: In the meantime, we continue to trade using 4-hour chart signals, looking for long positions in green buy zones. This week, we shared several successful trades using this pattern in our Discord group. I am prioritizing longs as bitcoin is still bullish on the 1D timeframe.
Altcoins: I analized 5 altcoins that look very promising and will buy after ETH confirms a breakout.
Stay tuned for more insights and updates in the coming weeks. Happy trading!
Best regards, TR
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