Let’s start the trade challenge by taking a look at the crypto market health. I will first explain my outlook for the week.
Crypto Market Outlook Today, July 10:
- The early Asian session on Monday saw a massive spike in buying pressure that propelled Bitcoin by 4.13% to a daily high (so far) of $58,350.
- The daily range is almost $4,000, extending from a low of $54,228 to $58,195.
Top Gainers Today, July 10:
- Layer Zero is up 43.50% in two weeks: ZRO price has shown consistent strength for the past two weeks.
- Horizen is up 40.50% in two weeks: ZEN price showed strength initially, but has dropped roughly 20% between July 7 and 8.
- Mantra is up 35.98% in two weeks: OM price has also made a strong comeback despite the bearish market outlook.
Other Strong Altcoins For This Week
In addition to these altcoins, I have gut feeling that
- Bonk (BONK) & Pepe (PEPE) Popcat (POPCAT) are the meme coin that my gut tells me will do well. Both altcoins have shown immense strength.
- Notcoin (NOT) & Chainlink (LINK) look promising, but need to watch it carefully.
- Ethereum-based altcoins like Ethereum Name Service (ENS), Uniswap (UNI), Lido (LDO) & Toncoin (TON) are some coins you should watch due to the Ethereum Community Conferences (but I wouldn’t bother too much with this.
Week Ahead, July 8:
Crypto & Macro Events
July 8
- ENS – Rebrand news
July 9, 10:
- Jerome Powell testifies before Senate and House.
- XAI unlock, 71% of Supply worth $65M
- US House might vote to overturn Biden’s SAB 121.
July 11
- US CPI
July 12
- APT: 2.5%: $67M
- IMX: 2%: $41M
July 8-12
- ETH spot ETFs are expected to be approved for trading at the end of this week or early next week
Bitcoin Price Prediction & Bias
BC Bias: Bullish
BTC Price Prediction
- Expecting Bitcoin price to reverse soon.
- But not holding my breath.
- Might look to go all-in around $52,000 to $50,000.
