Altcoins Pump Today

Added: 2026-05-09

[00:00:00]Good morning everybody. Here we go.

[00:00:02]Another day, another dollar. Well, basically exactly the same dollar. We've been hanging around this area for 24 hours now and I think it's time it pulls back a little bit. Don't panic. Don't panic. But pulls back a little bit is what I said. So it might be the case that we've already seen the resistance and we just front run that 200 exponential which is a death cross obviously. Now I might come across quite bearish today because I'm talking about a rejection and then price action that goes downwards you know but that doesn't mean like I'm a perma bear or I'm calling for a crash or you know the end is nigh or anything like that. It's just from a up and down perspective today probably goes down although there is no guarantees that that happens. So with down possibly comes opportunity because if you want to buy low you need to obviously buy the low in order to sell you know the high you know so buy the low sell the high. So all I'm thinking and again I was talking about it just briefly on on my telegram I was saying look [cough and clears throat] I I there's a there's debates going on in in the telegram and you know it's it's I'm not looking to get involved in that. I'm just saying I think that and and this shouldn't come as any surprise.

[00:01:17]I've been saying the same thing for weeks, months. I think that a rejection is required at these areas. It's statistically the most likely thing. We do have some significant bearish divergence on Bitcoin. Um so a rejection is the most likely outcome. And then you know the only thing I'm unsure about is exactly where it's going to finish. Just like we don't know, you know, where the low if the low is already in or where the low will be. Nobody really knows.

[00:01:44]You have to make an educated guess as to where the low will be. Uh based around moving averages, divergences on multiple time frames, all you know, all kinds of stuff. And at the moment, all I can tell you is the first major level of resist support is 78,000.

[00:02:01]And I've been saying that again since forever. So there's a range, bottom of the range, top of the range. break from the top of the range, there's a chance that this holds. Just like when you lost 66,000, there was a chance that we got rejected here and that was it. We come straight back down, but we didn't. We we we came back in. Same thing could apply here. If this doesn't hold, then yeah, we got the 50 exponential, 75, this horizontal 71, 66, 58, 53, and then zero.

[00:02:30]Anyway, we're doing a live stream tonight if you want to join for the Patreon. Obviously, when we're thinking about moving down and and and making sort of retesting support, basically, it's often a good time to think about planning a trade because if you're if you're not in trades and you've been patient enough um on this uptrend to to not FOMO, which is always a good thing, um then maybe tune in and have a little look at whatever it is that you want me to to to see on on um whatever chart because, you know, you got to plan a trade, haven't you? way before the time comes to actually take the trade. You should have planned for it because otherwise you're just trading blind and actually led by emotions and and that's where you go wrong. That's where everyone goes wrong. [snorts] All right, based on the 4hourly and we do have bearish divergence on the money flow as well. So, and the idea is we pull back. Yeah. At the same time though, you know, the pullback could be 80, it could be 79, 78, and then some decent opportunities potentially around here around 74, sorry, 75 to 76. But you move over to the weekly, you got a single drive of hidden bearish divergence, but you're above most moving averages at this stage. It's only 50 simple and and and exponential that is above us. So, it's looking good for the long term here. Um, and it does make me feel more confident at the idea that the low is actually in.

[00:03:53]So, but you know, while saying the low is in, that that makes everybody super excited. They go pouring all their money into it. And look, I don't know where it's going to go as far as longterm. I don't know where the price action is going to go. We're already up 23% from the low. Obviously, in terms of a bull market, 23% from the low is pretty much the low. Um, and so look, if you did buy right now and intended on holding it for 3 years, then you're likely to see higher prices than this. That's all I'm saying. But you're going to be after dealing with the uh the volatility of of the of that price. So, let's have a quick look at Ethereum. So, Ethereum still struggling with a 20 moving average on the weekly. I'm not really going to get too excited about about this on the long term. We've got the breakout which exists and we've got the targets up here and here. Same as we were saying yesterday, same with Litecoin targets here and here.

[00:04:41]Actually, Litecoin looks slightly better despite price action being static for what feels like a millennium. Um, but yeah, I I think there's a good chance that we try to break on this one, maybe even today if Bitcoin can continue to hold 80 to 81,000. Um, XRP looking like it is ready to have an attempted move up as well. So, actually the altcoins, just from what I can tell, look like they want to try to move up now. Um let's have a look at the dominance chart. Is there any clues here? Yeah, plenty of divergence and um falling momentum now.

[00:05:13]So actually I think that if so this isn't me thinking, right? This is this is me explaining how the charts present themselves, right? So the dominance chart does look like it has some momentum downwards. Now um altcoins although they look weak this morning and don't look very appetizing they do present in a way to suggest that they will go up today. The criteria for that is that Bitcoin must stay the same ideally not move really not break down or even break out because if you break out and go further up you actually hit those resist resistances. If you break down then you fall down below supports.

[00:05:54]So there is really a sweet spot for Bitcoin. It kind of has to stay where it is right now to allow altcoins to actually make this move because the top three that I just saw there looked like they wanted to actually do the move.

[00:06:05]They they presented in a way that made it look like they wanted to actually try that move today and maybe that move might last for a couple of days. So this could be pretty exciting. This could be it could be the start of a decent 24 to 48 hours provided Bitcoin stays exactly still. So, the last thing we're going to check is the S&P because we don't want to see this uh weak in any way. 4hourly is not weak. Okay. So, that's good. Um yeah, a breakout on momentum while going down on money flow. So, I I think S&P is at some point very soon needing to have a pullback, but possibly not today. And um and the weekly just wants to keep going generally. So, we are hopefully we're going to get a couple of days. Yeah. So hopefully the rest of the week we will see some altcoin movement like those charts presented to me just now. So yeah, enjoy the pump if we get it. Um, Bitcoin has to remain the same as static. Stock market has to stay up. Um, and then it will allow for altcoins to give us maybe 24 48 or so hours of pumping. Right, I'll leave it with you there. Thanks for watching. Hope you have a nice day. Maybe I'll see you on the Patreon tonight. Links in the description below.