Brief Summary
This video discusses the current altcoin season and Bitcoin's performance, with the presenter sharing his trading strategies and market outlook. He highlights the potential breakout of Ethereum, updates on various altcoins like Solana, Doge, XRP, Cardano, and Pepe, and discusses his trading moves, including taking profit on a Pepe trade. The video also touches on market news, including Trump's comments on Jerome Powell and a large Bitcoin whale's movements.
- Altcoin season is in full swing, driven by a drop in Bitcoin dominance.
- Ethereum is approaching a potential breakout on a multi-year triangle pattern.
- The presenter shares his trades, including taking profit on Pepe and updates to his trading strategies.
Bitcoin's Current Stance
Bitcoin is currently consolidating after facing rejection at the £119,800 resistance level. The presenter notes that Bitcoin is taking a breather, which is beneficial for altcoins. He recalls predicting that altcoins would perform exceptionally well once Bitcoin dominance decreased, which is now occurring. Despite his dynamic strategies being down nearly £2 million previously, they are now up £1.3 million, demonstrating the potential for gains during altcoin season.
Ethereum's Potential Breakout
Ethereum has experienced a significant surge, approaching the £3,000 resistance level. The presenter emphasises the importance of breaking through the yellow dotted line at £2,850, which has acted as a catalyst for further upward movement. He highlights a crucial multi-year triangle pattern forming on the monthly timeframe since 2020. A successful breakout from this triangle could lead to substantial gains for Ethereum and the broader altcoin market, as Ethereum drives the altcoin market.
Altcoin Market Update
Solana is experiencing a positive uptrend, while Doge is testing a significant resistance point, with a potential move towards 30 cents if it breaks through. XRP has broken through resistance at £3.27 and Cardano is aiming to surpass the 80 cent level. The presenter notes his exposure to XRP, ADA, and Dogecoin, reflecting his confidence in their potential.
Pepe Trade and Strategy
The presenter shares details of his Pepe trade, where he took profit at the £1390 level, securing a profit of £3,590. He closed 50% of the trade at £1397, coinciding with the peak of a wick. The remaining portion of the trade has a profit target of £1690, potentially yielding an additional 230%. He also considers a similar strategy for Doge once it establishes support above a key resistance level.
Trading Strategies and Platform Updates
The presenter discusses adding to his trading strategies and encourages viewers to prepare their exchange accounts for future trades. He recommends Pionex, WEX, and Tapbit, highlighting special offers and their suitability for experienced traders. He mentions updating the range for Ethereum strategies due to its significant increase, adjusting the upper limit to allow for further gains. He has also added SQD, resz and pump coins to his trading strategies.
Bull Market Portfolio and Market News
The presenter's bull market portfolio is performing well, recovering from a previous loss of nearly £200k to a gain of £90k, largely due to his investment in Pepe. He expresses a desire for greater exposure to XRP and Ethereum. He briefly covers news regarding President Trump's comments on Jerome Powell and the movement of a large Bitcoin whale's holdings, noting the altcoin market appears poised for another upward surge.
