BTC recaptures its 50-dma – ALTs beginning to move to the upside
Cryptocurrencies have consolidated through April similar to other risk assets -Major cryptocurrencies stalled over the past two weeks following rebounds into resistance levels near declining 50-dma’s. This behavior is similar to what developed in many risk assets, notably equities where cyclical indices, such as the Russell 2000, have stalled in sideways trading ranges heading into last week’s option expiration.
However, signs of improvement for BTC taking hold - BTC, for example peaked under its 50-dma on April 7th and has been in a sideways range since. However, over the past few days, BTC has recaptured both its 15-dma and 50-dma and appears poised to rally. A move above resistance at the April highs between 7.1-7.4K would signal BTC is starting its next upside move. Next resistance is near 8K at BTC’s declining 200-dma coinciding with BTC’s 62% retracement of the 2020 decline. Stepping back for perspective of the long-term, BTC continues to repair the damage that developed from the downside break in March and remains above key support at its 200-week sma coinciding with a curved long-term uptrend.
Unlock this article by joining our Community!
An FSI Pro, or FSI Crypto subscription is required in order to access this content.
*Free trial available only on a monthly plan
Already a member?
We accept crypto via BitPay for yearly subscriptions.
Choose one of our yearly plans to save nearly 15%Webinars
We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights!
WEEKLY
COMING SOON
Fireside Chats
Weekly interviews with our research heads about market opportunities and important updates.
WEEKDAYS
Tom Lee's First Word
The best market research out there -- on a near-daily basis.
ON MARKET EVENTS
Tom Lee's Intraday Word
These are released periodically after crucial market developments.
DAILY
Daily Technical Strategy
Daily commentary on market trends and short term opportunities.
WEEKLY
Wall Street Whispers
Exclusive insights based on discussions with institutional clients.
WEEKLY
Quantitative Strategy
Quantitative market research utilizing industry-leading analytical methods.
WEEKLY
US Policy
Weekly update on developments in Washington DC and how they may impact Wall Street.
WEEKLY
Weekly Roadmap
Weekly summary of market events and updates on our key theses.
EARNINGS SEASON
Earnings Daily
A multi-faceted update of earnings developments.
UPDATED BI-WEEKLY
Signal From Noise
Highlights timely market themes and sectors with corresponding stocks, cutting through the day-to-day market “noise” for a distinct perspective.
UPDATED MONTHLY
FSI Sector Allocation
A sector allocation strategy that is designed to outperform the S&P 500 while taking minimal risk.
UPDATED MONTHLY
Factor Strategy
List of ETFs based on quantitative models that should outperform the S&P 500 on a monthly basis.
UPDATED MONTHLY
Newton's Upticks
Technically derived, intermediate-term picks of attractive risk/reward opportunities from the S&P 500.
FSI Academy
Thematic investment stock picks that aim to outperform the S&P 500.
Community Questions
We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!
Community Interviews
Get questions answered directly by our research heads and guest speakers.
Get access to all the macro research on FS Insight
First Month Free!
Webinars
Ongoing webinars exploring crypto opportunities, in depth research, and exclusive research offerings from our team of analysts and leading cryptocurrency firms.
WEEKLY
Crypto Comments
Digestible videos expanding on important market events and metrics that are shaping cryptocurrency markets.
DAILY
Crypto Market Update
Stay on top of the crypto markets with macro commentary, technical analysis, and the most relevant news.
INTRA MONTH
Crypto First Word from Tom Lee
Hear directly from Tom Lee about important cryptocurrency developments.
WEEKLY
Crypto Technical Strategy
From Bitcoin, Ethereum and Solana to other coins, our Head of Technical Strategy highlights important price movement to help give you an edge.
WEEKLY
Crypto Strategy
A must-read summarizing our key thoughts about the crypto market, price action, and developing trends.
WEEKLY
Funding Fridays
Are you looking for investment opportunities in the crypto space? We explore early-stage crypto opportunities in this note about where the smart money is being invested!
WEEKLY
COMING SOON
Crypto Events
Never miss another conference, a high-impact software update, or an event that could be market-moving!
NTRA-MONTH
Deep Research Reports
Our consulting business delivers incredible deep research reports to highlight the economics and viability of exciting crypto projects.
WEEKLY
Crypto Strategy
Keep track of bitcoin sentiment to plan your digital assets strategy.
FSI Academy
Our main goal is to make you a better investor! This series will guide you through key financial concepts and topics in an understandable way.
Community Questions
We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!
Community Interviews
Get questions answered directly by our research heads and guest speakers.
Get access to all the Crypto research on FS Insight
First Month Free!
Webinars
We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights!
WEEKLY
COMING SOON
Fireside Chats
Weekly interviews with our research heads about market opportunities and important updates.
WEEKDAYS
Tom Lee's First Word
The best market research out there -- on a near-daily basis.
ON MARKET EVENTS
Tom Lee's Intraday Word
These are released periodically after crucial market developments.
DAILY
Daily Technical Strategy
Daily commentary on market trends and short term opportunities.
WEEKLY
Wall Street Whispers
Exclusive insights based on discussions with institutional clients.
WEEKLY
Quantitative Strategy
Quantitative market research utilizing industry-leading analytical methods.
WEEKLY
US Policy
Weekly update on developments in Washington DC and how they may impact Wall Street.
WEEKLY
Weekly Roadmap
Weekly summary of market events and updates on our key theses.
EARNINGS SEASON
Earnings Daily
A multi-faceted update of earnings developments.
UPDATED BI-WEEKLY
Signal From Noise
Highlights timely market themes and sectors with corresponding stocks, cutting through the day-to-day market “noise” for a distinct perspective.
UPDATED MONTHLY
FSI Sector Allocation
A sector allocation strategy that is designed to outperform the S&P 500 while taking minimal risk.
UPDATED MONTHLY
Factor Strategy
List of ETFs based on quantitative models that should outperform the S&P 500 on a monthly basis.
UPDATED MONTHLY
Newton's Upticks
Technically derived, intermediate-term picks of attractive risk/reward opportunities from the S&P 500.
FSI Academy
Thematic investment stock picks that aim to outperform the S&P 500.
Community Questions
We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!
Community Interviews
Get questions answered directly by our research heads and guest speakers.
Get access to all the macro research on FS Insight
First Month Free!
Webinars
Ongoing webinars exploring crypto opportunities, in depth research, and exclusive research offerings from our team of analysts and leading cryptocurrency firms.
WEEKLY
Crypto Comments
Digestible videos expanding on important market events and metrics that are shaping cryptocurrency markets.
DAILY
Crypto Market Update
Stay on top of the crypto markets with macro commentary, technical analysis, and the most relevant news.
INTRA MONTH
Crypto First Word from Tom Lee
Hear directly from Tom Lee about important cryptocurrency developments.
WEEKLY
Crypto Technical Strategy
From Bitcoin, Ethereum and Solana to other coins, our Head of Technical Strategy highlights important price movement to help give you an edge.
WEEKLY
Crypto Strategy
A must-read summarizing our key thoughts about the crypto market, price action, and developing trends.
WEEKLY
Funding Fridays
Are you looking for investment opportunities in the crypto space? We explore early-stage crypto opportunities in this note about where the smart money is being invested!
WEEKLY
COMING SOON
Crypto Events
Never miss another conference, a high-impact software update, or an event that could be market-moving!
NTRA-MONTH
Deep Research Reports
Our consulting business delivers incredible deep research reports to highlight the economics and viability of exciting crypto projects.
WEEKLY
Crypto Strategy
Keep track of bitcoin sentiment to plan your digital assets strategy.
FSI Academy
Our main goal is to make you a better investor! This series will guide you through key financial concepts and topics in an understandable way.
Community Questions
We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!
Community Interviews
Get questions answered directly by our research heads and guest speakers.
Get access to all the Crypto research on FS Insight
First Month Free!
Reports you may have missed
BITCOIN (BTC) “CRYPTO-WINTER” LOOKS TO BE OVER. A BULLISH 2024 LOOKS LIKELY TECHNICALLY FOLLOWING A 1Q CONSOLIDATION. Bitcoin looks to be giving off strong signals that the crypto-winter that has kept most coins in bear markets over the last couple years has finally run its course. The act of having taken the lead ahead of many cryptocurrencies in finally surpassing the 50% retracement area of its entire decline from 2021...
Tuesday produced nearly a textbook breakout which not only exceeded late June and early July highs in ^SPX 0.43% , but also successfully exceeded 3-4 month downtrends for ^SPX 0.43% and DJIA 0.55% . Seven of the 11 S&P Select SPDR ETF’s were higher by more than 3%, and volume was nearly 10/1 bullish on NYSE and NASDAQ, producing a “90% Up day” in volume. Hourly charts show this breakout above the two former peaks...
The SPX showed just minor downside follow-through after Tuesday’s reversal but might not immediately weaken down to prior lows ahead of the US July 4th holiday. As mentioned, prices reversed on cue Tuesday due to a combination of Elliott-wave analysis with Gann analysis which provided price and time targets based on the prior June 16th bottom. I expect that the next couple days might show prices attempting to stabilize and...
Cryptocurrency rally looks to have temporarily stalled out after a sharp three-week rally. Ethereum has stalled out in its relative performance vs Bitcoin, and for now, Bitcoin is an outperformer over Ethereum and should be favored. Weekly momentum remains negative and Cycle composites start to turn lower in early March into April/May, so given low retail interest and not many inflows, this could limit the larger rally continuing to all-time highs...