Key Takeaways
The mid-term outlook is very bullish, and the recent retrace to $30k proves it. Do not be spooked by $1k moves.
We are in phase 1, ethereum is outperforming bitcion, and it will begin to dominate the market. It’s explosive.
Narratives will be a key part of the upcoming alt season. There is one in particular that will drive the market.
LDO and 2 other coins look very promising considering their high beta.
We just witnessed a shakedown. It’s not time to get out: not only is the mid-term stronger than ever, but these are the retests we want to see to get further confirmation of an alt season.
Remember that bitcoin’s average true range over the past 14 days has been around $1,000 per day… We opened around $30.3k, which means we can range between $29 - $31k. This is not for the faint-hearted.
In terms of alts, ethereum steals the spotlight as we move into the transition phase: ethereum begins to outperform bitcoin - it becomes more dominant.
Ethereum is explosive, it is gradually pulling large, mid, and small caps. Meanwhile, bitcoin is flat in terms of impulse. Leading into the previous alt season (Feb - March 2023), everything went explosive.
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