The market remains quite dull for now, but we are approaching the end of a stable decline and opportunities for growth in altcoins, I think it’s time for another review. First of all, I want to note that there are not enough arguments yet for a move to 75k for Bitcoin, which I recommend keeping in mind since the end of last year for understanding the medium-term market prospects and the depth of the altcoin market.
Last week saw a fairly large wave of dollar sales, which completely halted the trend of its strengthening, but has not yet provided a reliable trend change. If the dollar continues to decline this week with the euro consolidating in the range of 1.050-75, Bitcoin will give a new wave of growth towards 110-115 with further attempts of a monthly reversal for altcoins. For now, this scenario with a slight edge prevails in my opinion. The outgoing statistics will play an important role, especially negative ones for the USA. In a negative scenario, the euro will fall below 1.045 again, causing crypto to get stuck in a sluggish flat.
In the first half of the week, there is a prevailing likelihood of maintaining sales within the drawing of a shadow on the current weekly candle. From Wednesday to Friday, buyers will start looking for reasons to buy coins with a weekly reversal, transitioning into a monthly reversal in an optimistic scenario for certain coins.
However, I want to emphasize once again that the targets for Bitcoin up to 60-75k remain relevant and are likely to be reached closer to summer. At the moment, we are only looking for scalping opportunities against the bear market, as Bitcoin maintains a flat range of 90-110. It’s not advisable to add coins with large capitalization that are in a drawdown, as the decline is likely to continue until autumn.
The altcoin dominance index has reached the target level at the test of 9%, which I indicated. As a result, after overtrading, there is a prevailing likelihood of a slow reversal of the altcoin market with targets up to 12.5-15% on the altcoin dominance index. The formation of this reversal partially compensates for the possible drawdown of Bitcoin.
In the current market, the most interesting position is occupied by coins with the monitoring tag, as they are in the most oversold position. Vite stands out significantly, having closed the previous weekly candle bullish, which is likely to lead to a reversal this week to 0.0150-75. There is also a high growth potential for cream troy hard on the attempt of a monthly reversal.
I remind you that coins with the monitoring tag face a constant threat of delisting, which usually occurs from Monday to Wednesday before noon. During this time, it is advisable to keep a short stop on these coins below the current price or to scalp with these instruments in the second half of the week. Despite the delistings, coins in this group have always brought significant profits due to frequent overselling and very volatile growth impulses.
Among the coins without the monitoring tag, vib and ast stand out the most. However, it is important to consider the incomplete issuance of ast, which may lead to additional drawdown in case more coins are added to circulation. Also interesting for scalping are pda vidt alpaca og pivx amb wing uft slf, with possible waves of growth up to 50-70%. Quick and combo have also approached strong supports, making them suitable for medium-term storage of funds, as they are quite reliable projects. Combo (formerly cocos) already delighted us with x's in 21-22, when I recommended it for work.