While the stock market has seen surprising upside in the past weeks (presumably due to pricing in rate cuts / a more positive liquidity picture / high expectations for Q2), crypto has lagged behind. I don't believe anything significantly above current prices - no matter in which market - is sustainable for now, but we can certainly milk it for whatever it's worth.
Notably, BTC has shown way more resilience and dominance in the current cycle so far. This makes sense in a high interest environment. However, within the bias of the markets pricing in expectations for rate cuts and as such more liquidity, we could also assume that demand for assets other than "safe havens" would now increase as well, leading us to the biased conclusion that we could see altcoins wildly outperforming BTC over the next weeks.
Indeed, if we look at the BTC chart, technicals such as VWAP stddevs show significantly less potential for upside if compared to ETH in the current moment in time. We therefore would focus on ETH at this point (as money flow seems to cycle BTC->ETH->Others).
PLEASE NOTE: SL and TP are not accurate. This is not a precise trading idea. Please use your own judgement in accordance with your trading style.
Notably, BTC has shown way more resilience and dominance in the current cycle so far. This makes sense in a high interest environment. However, within the bias of the markets pricing in expectations for rate cuts and as such more liquidity, we could also assume that demand for assets other than "safe havens" would now increase as well, leading us to the biased conclusion that we could see altcoins wildly outperforming BTC over the next weeks.
Indeed, if we look at the BTC chart, technicals such as VWAP stddevs show significantly less potential for upside if compared to ETH in the current moment in time. We therefore would focus on ETH at this point (as money flow seems to cycle BTC->ETH->Others).
PLEASE NOTE: SL and TP are not accurate. This is not a precise trading idea. Please use your own judgement in accordance with your trading style.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.