Top Altcoins (13 picks)
7/11/2024
Hey everyone,
There was a big shakeout before the election, and after seeing a bearish signal on Bitcoin, I decided to stay de-risked. Now that the elections are behind us, there’s no reason to hold back on trades anymore.
Looking back at October, the trade model portfolio ended with a solid 31.65% profit. While this is a great result, it’s important to remember that performance can vary, and it won’t always be like this. Your own portfolio may see different results, especially during periods where you take other trades.
In this Top Altcoins report, I’ll cover the top-performing altcoins at the moment. You’ll also find a detailed trading plan, including entry points, profit targets, and stop-loss levels. If you have an altcoin you'd like to see covered in the next update, feel free to leave a comment or send me a message!
Bitcoin
Bitcoin's price action is holding above the 50-day Simple Moving Average (SMA), which signals a potential bullish trend similar to 2021, when it reached new all-time highs. While we don’t see a clear resistance level above, we’re keeping an eye on shorter time frames (LTF) for any sharp upward moves, which Bitcoin has a history of showing. Given recent fakeouts in price, I’ll stay cautious but optimistic.
Key Support & Resistance Levels:
Bitcoin ($BTC): Support around $73,000, awaiting confirmation of higher resistance.
Ethereum
Ethereum is showing some strength but hasn’t yet broken past the key $2800 level, which we’re watching for a confirmed move higher.
Key Support & Resistance Levels:
Ethereum ($ETH): Support around $2300, resistance at $2800.
Next, we'll dive into trade setups for 13 select Top Altcoins.
