Top 6 Altcoins I am Currently Looking to Long On!
#altcoins #altseason #ta #tradesignal #bullish #pampit #tothemoon
Traders,
If you missed the trade alert that I signaled yesterday on APE (Apecoin), no worries. This post is intended to demonstrate there are more (possibly better) options available at the moment and provided that Bitcoin holds its important neckline support of $25,200, we can start to feel more comfortable with dipping our toes in the water here on alts and going long!
But what about the SEC’s lawsuit against Binance you ask? Well, that was definitely the catalyst to push us down to that neckline at first. And it is what we needed to get there. But, I think after the market did some digesting of the news, they are recognizing that this lawsuit might actually be a good thing for crypto. Even though it was carried out unilaterally by the SEC, like a thug in the streets who blindsided their victims. Ultimately, the market may be beginning to recognize that the SEC will finally be forced to define what a crypto ‘security’ actually is. They have intentionally remained vague and without clarity on this discussion for years. Their actions will put them in a position where they are unable to remain cryptic. This is good.
Ok, so again, provided the market keeps this positive perspective and bias remains optimistic, Bitcoin should remain above $25,200 (at least for now). This give us some opportunity to look at longs in the alt space. Here are the top 6 on my list right now:
#1. BCH - Many claim it as the real Bitcoin. It’s not going away. In fact, I think it will excel in growth over many alts in the coming years. Entry area is the bottom of that triangle at 107
#2 SAND - With Hong Kong opening crypto trading back up to retail investors, some coins become especially attractive. Sand is one of them. Sand has touched the bottom of this bullish triangle once again and should soon breakout. Entry area is around .50 cents.
#3 ARB - Arbitrum has a massive funding round. Arbitrum is a layer 2 scaling solution for the Ethereum blockchain that aims to improve scalability and reduce transaction fees. The Arbitrum token, also known as ARB, is the native cryptocurrency of the Arbitrum network. It is used for various purposes, such as paying for transaction fees, participating in network governance, and providing liquidity for decentralized applications built on Arbitrum. The token plays a vital role in supporting the efficient and secure functioning of the Arbitrum ecosystem. Looks like a great price right now. Entry area is $1.08-$1.11.
#4 XRP - The ripple suit should be settled soon. Investors are banking on a positive outcome. Charts are showing bullish patterns (see inverse H&S below). Entry area is .47-.48 cents.
#5 HBAR - The Hedera Hashgraph token, known as HBAR, is the native cryptocurrency of the Hedera network. Hedera Hashgraph is a decentralized public ledger platform that aims to provide fast, secure, and fair transactions. HBAR is used to pay for transaction fees, participate in network governance, and incentivize network participants. It plays a crucial role in securing the network, reaching consensus, and ensuring the integrity of transactions on the Hedera Hashgraph platform. HBAR holders can also use the token for various applications and services within the ecosystem. Bullish wedge in formation. Entry area is .044-.046 but you want to see it coincide with that ‘Touch and Go’ level on the RSI.
#6 Matic - Disney’s adoption. I’ve been hoping for a drop to that .75 cents area. Should we get there, I’m a buyer. Entry area is outlined below.
So, what’s my fav coin/setup rn?
Probably BCH or Matic because not only are they larger cap ALTS, which make them a less risky trade. They also have daily RSIs which are quite low and nearing oversold, making them a more probable trade in alignment with the patterns outlined on their respective charts.
As you follow my posts you may very well see me entering one or more of these altcoins above very soon.
Best,
Stew
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