Focus on altcoins over Bitcoin, as an "alt season" could begin within the next 14 to 20 days, potentially leading to significant outperformance. Consider a swing trade on Ethereum (ETH) by looking for a buying opportunity near the $2,700 support level with a price target of $3,100-$3,200. A short-term trade setup also exists for Solana (SOL), with a potential entry zone around $125-$126 and a take-profit target of $150. Add Cardano (ADA) to your immediate watchlist, as it is positioned for a potential technical breakout very soon. These trades are considered short-term, so be prepared to take profits at the specified targets.

Bitcoin (BTC)

• The speaker has a short-term bearish but mid-term bullish outlook for the week. He anticipates the week will start with prices falling (red) but end with a recovery (green).
• A "W pattern" is expected to form, specifically a version with a higher low. The recent low was near $80,000.
• The speaker believes a relief rally or "trap to the upside" is coming this week, with a target of $95,000 to $100,000. This move is expected to be a short squeeze to liquidate short positions.
• The immediate plan is to watch for a drop to the $83,000 - $84,000 area, which could be a buying opportunity for a trade targeting $97,000.
• This anticipated bounce is not considered the start of a real, sustainable bull run. The speaker warns not to fully trust it.
• A true, long-term breakout for Bitcoin that could re-test all-time highs is not expected for at least the next 40 days, based on a major descending trendline.

Takeaways

• Short-Term Trade: Consider looking for a long entry on Bitcoin if the price drops to the $83,000 - $84,000 range. The target for this trade would be the $95,000 - $97,000 liquidity zone.
• Manage Risk: This is viewed as a short-term relief bounce. Be prepared to take profits at the target and not hold for a new all-time high, as another rejection and potential move lower is expected afterward.
• Long-Term Patience: Do not expect a major, sustained breakout for Bitcoin in the immediate future. The market may remain in a range for over a month. Panic selling is discouraged at current levels, as a bounce is expected first.

Altcoins (General)

• The speaker is significantly more bullish on altcoins than Bitcoin in the short-to-mid term.
• The chart for altcoins (Total3) is much closer to a major breakout than Bitcoin's chart. A potential breakout for altcoins is predicted within the next 14 to 20 days.
• This setup could be the catalyst for an "alt season," where altcoins significantly outperform Bitcoin.
• The Bitcoin Dominance chart also looks bearish (likely to fall), which is historically a positive sign for altcoin performance.

Takeaways

• Conviction: This may be a good time to have conviction in your long-term altcoin portfolio. The analysis suggests altcoins are closer to a significant upward move than Bitcoin.
• Focus Shift: Consider focusing trading activity on strong altcoins, as they may offer better opportunities for gains in the coming weeks.
• Accumulation: The current market could present an opportunity to accumulate positions in promising altcoin projects before a potential breakout.

Ethereum (ETH)

• A bearish continuation pattern was identified, suggesting more short-term downside is likely.
• The speaker is looking for a price drop to the $2,700 area, which is identified as a potential support level (the 618 Fibonacci level).
• Following this drop, a bounce is anticipated with a price target of $3,100 - $3,200.
• A specific trading strategy was mentioned:
  • Enter 30% of a desired position size around the $2,700 level.
  • Place a stop-loss below this entry.
  • Add to the position only after the price breaks a key descending trendline, confirming the upward move.

Takeaways

• Entry Zone: Watch for a potential buying opportunity for a swing trade if ETH's price corrects to the $2,700 area.
• Price Target: If entering a trade, the primary take-profit target would be in the $3,100 - $3,200 range.
• Phased Entry: Consider a scaled-in approach. A smaller initial entry at support with a larger entry upon trendline confirmation can be a way to manage risk.

Solana (SOL)

• The speaker recently exited a winning trade on Solana as it started to lose a key trendline.
• He is now looking for a new entry opportunity for a short-term trade.
• The target buy zone is around $125 - $126.
• The price target for this trade is $150, at which point he would take profits.

Takeaways

• Trade Setup: A potential long trade setup exists for Solana. Look for an entry in the $125 - $126 support zone.
• Take Profit: The trade has a clear take-profit target of $150. This is a short-term trade, not a long-term hold.

Cardano (ADA)

• Cardano is highlighted as an altcoin "to pay attention to."
• It is described as being very close to breaking a "nice five touch trend line," with a potential move happening as soon as the next day.

Takeaways

• Watchlist: Add Cardano (ADA) to your immediate watchlist due to its proximity to a potential technical breakout.
• Short-Term Play: Any trade on this breakout should be considered short-term. The speaker's advice is to "get in, make your money, get out."

Other Altcoins Mentioned

• Avalanche (AVAX): Noted as being "pretty close to the trends" and could be one of the "stronger hits" during the anticipated market bounce.
• Dash (DASH): Mentioned as an example of an altcoin that is close to a breakout (within "two weeks"), even though it's not a personal favorite of the speaker.