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$Which stablecoin do you prefer using on Binance?Comment Your Favourite and follow crypto market watch for daily crypto and altcoins update.

USDT

36%

USDC

55%

BUSD

9%

OTHER

0%

11 votes • Voting closed

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MARKET ANALYSIS Really simple update to yesterday's call for a range break. As long as $BTC keeps closing 4 hour candles above 95.5k I am looking for upside on BTC and our bullish alts. Longs when they don't look over extended. A close below looks bad and is our warning to sign to get out. Daily close looks great but look to the 4 hour to lead the way#BTCRebound $BTC

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↗️MARKET ANALYSIS↗️ VOLATILITY INCOMING Bitcoin closed the monthly candle just above 94k at resistance. The monthly chart is looking healthier. The bears had a chance to take control at the 90k resistance level and instead BTC is consolidating above that major support/resistance zone. This is generally a healthy sign combined with BTC outperforming equities. The concern is that BTC hasnt been able to close above the key 95.5k level which is both a momentum pivot and the breakdown candle from 26 Feb. If BTC rejects in this area it is the exact area we would expect a bearish retest to fail and form a lower high. In any case there has been so little volatility on $BTC over the last week that I expect an explosive move to come in the early part of May maybe as soon as tomorrow THE NEXT MOVE While the market is sending mixed signals on the next direction, no one wants to hear “price could go up or down”. The conventional wisdom is to “sell in May and go away” but we might be in for a countermove move this month. 👀 To find the next direction I would look to the 4 hour chart I have shared to front run the daily close. So far BTC has maintained an extremely tight range between 93.5 and 95.5. A 4 hour candle close above or below this range would be an early indication of direction. I would look to go cautiously long or short on a 4-hour closure outside of the range and ride that to the daily close. If BTC breaks to the upside I expect it to come suddenly on a strong impulse candle. This would likely not be a fakeout but a signal we are headed for 98k and higher. HOW WE TRADE IT We watch the 4 hour chart into the daily chart as I said above. To make outsized gains one of the strategies I like is to long strong coins at support and short weaker coins at resistance while BTC is still in the range. My current long watchlist (at support only) are 💎$BTC $FART, $HYPE, $VIRTUAL and $TON My current short watchlist (at resistance only) 💎$LINK $BERA $ADA memecoins, most alts. It is much easier to find an ugly chart than a healthy one 🍾

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📊 Daily Crypto Market Update 📊 1. Market Overview - Global Market Cap: 3.07 (previously 3.08T) via Coingecko - Top Movers: KCS, LEO, SUI, ALPACA 2. Altcoin Market Trends 📈 - Alts have finally taken a breather as BTC stagnates near 95k and memes outperform. ALPACA recently pumped 300% on delisting news which shows manipulation is still at an ATH. Most are waiting to see what BTC does over the next few days as even institutions are taking a risk-off approach amid lower ETF flows until there's more clarity. 3. Key News Headlines 📰 - Regulatory Updates: United Kingdom to collaborate with the US to boost adoption of cryptocurrency - Partnerships or Integrations: Bitget and Avalanche form crypto partnership in India - Major Developments: Trump's Truth Social explores launching its own crypto token and wallet 4. Upcoming Events ⏩ - Apr 30th-May 1st Token 2049 Dubai - May 7th FOMC meeting - May 30th FTX starts $11.4B of creditor payouts 5. Summary ✍️ The market is still holding up fairly well considering the uncertainty surrounding the macro environment. There's been recent tensions between Pakistan and India where Pakistan claims it has ‘credible intelligence’ India will strike within 36 hours. This, along with the tariff wars and Russia/Ukraine means investors are taking a risk-off approach until there's more clarity. We also have the FOMC meeting May 7th but the majority are expecting no interest rate cuts. The silver lining is Trump's Truth Social exploring launching its own crypto token and wallet which would mean the president would be endorsing and legitimizing the idea of a blockchain IPO, all done officially. This would be a white swan event that would override any macro uncertainty imo. Until then, continue to manage risk and take advantage of the volatility.

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📊 Daily Bitcoin Analysis 📊 - $BTC is still hovering just below its 95k resistance at the 0.618 Fib (which it's touched 5 times in the past). - Historically, the more times a level is tested, the weaker it becomes. - The RSI and StochRSI are now starting to level out but I'm still waiting for confirmation of a cross-over for bullish continuation. - At this point, you're still better off waiting for a daily close above 96k or below 93k. Some liquidity disappeared at 94k but has added above 96k which could act as a magnet with any positive news. Major resistance is 95k, 100k, 106k, and the 108k trendline. Major support is 88-90k, 86k, 83k, 81k, 77-78k, and 72-74k.

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