Top Altcoins (8 charts)

5/9/2024

Bitcoin is still in a summer mode and trading with weakness. This makes it challenging to find good opportunities in altcoins. Many of the altcoins I’ve covered have fallen below their key support levels. It’s a difficult time to trade altcoins, but it's crucial to stay focused and ready to seize opportunities when they arise.

When looking at the Bitcoin chart, I see potential for BTC to establish a higher low around the $56k mark, which is why I decided to enter a position in BTC.

• Support: $58k

• Stop Loss: $55.5k

• Take Profit: $62k

• Risk/Reward Ratio: 1.67

If this trade fails, I will enter a new trade after reclaiming $55.5k.

The rest of this update is for paid subscribers and includes analysis of 7 Top Altcoins.