Josh’s latest market read suggests we’re getting close to a major crypto move - but not just yet. Here’s what to know:
-
Bitcoin (BTC): Still in consolidation. A breakout is more likely in Q4 as ETF flows remain strong and seller pressure (like Galaxy’s 80K BTC) is gradually being absorbed. Key resistance sits at $116K. Long-term target: $150K if macro and inflows hold up.
-
Ethereum (ETH): Leading the market with momentum. Targeting $3.8K to $4.5K. ETHBTC strength is signaling a shift into altcoins. Leverage is rising - be cautious chasing smaller caps too aggressively.
-
Altcoins: Many ETH-linked and meme-driven plays are waking up. Pepe and Aptos stand out, while others are just approaching breakout levels. Focus on charts above cloud resistance and forming bullish patterns. These could run into Q4.
-
Macro View: S&P and Russell look stable for now. NASDAQ is less convincing on positioning. Commodities and AI-linked stocks (like rare earths, uranium) are breaking out - possibly signaling a larger trend.
Takeaway for This Week:
Momentum is building. ETH is the leader. BTC may lag short-term but is setting up for a bigger Q4 push. Altcoins with clean setups and strong patterns could outperform. Watch for breakout confirmation, and don’t overleverage into hype.
