Alpha Digital

The dust has settled and we can see a clear change of character on $BTC.

It is the first time since breaking its all time high that it is not able to reclaim these 4H moving averages quickly.

In my opinion this greatly increases the probability for further losses.

I started to derisk by moving 50% of the strategy to $USDT and am actively considering $PAXG for as long as $BTC does not show clear signs of a bottom or recovery.

Today we witnessed the strongest sell-off on altcoins since April.

This is surprising considering that $BTC's drop 5 days ago left alts relatively unimpressed.

In bull runs pullbacks like this are not uncommon though they generally retrace quickly so the next days will be crucial to determine the short-term direction of the market.

The picture looks similar on $OP where I would like to see a close above $2.25 or better yet above $2.4.

Otherwise, a range between $2 and $2.4 is the most likely outcome for now.

$MINA shot over the fib line and nearly touched another one, resetting the chart and opening the opportunity to build a base here that could be important for further upside.

For that to apply I would like to see a close above $0.78 on the weekly, ideally above $0.82.

If $MINA fails to do so ranging between 0.65-0.8 is the most likely outcome in my opinion.

Something most might miss is that $OP actually looks really really good on a higher time frame.

We have seen a clean series of higher lows and higher highs pointing to a bright picture for the future.