Weekly Watchlist Update: Altcoin Make or Break Decision Point is Approaching

For the most part we had another boring week for alts. I believe that will change soon but maybe not as soon as most would like. From what I can tell, many low cap and meme coin charts are going to reach a make or break decision point here in early May. I’m eyeing the May 3-6 window and we will get to why that is in next weeks, weekly market outlook. For now, it seems we are either at max pain or things are going to get a lot uglier. The only charts I am buying here are the ones that have gone through both time and price capitulation.

In a bull market like this when we come to such an important inflection point the right thing to do is bet on upside. As the famous Damon Runyon quote goes, “the race is not always to the swift nor the battle to the strong, but thats the way to bet.” Right now we are in a bull market so when technicals get tight we bet on a break to the upside. That’s where we are today with many alt charts and specifically the ETH/BTC chart as it has started to show strength here. We are also seeing the same with many of our watchlist holdings. So hang tight because this window is very reminiscent of the mid to late January inflection point where we got a great entry on the market and saw some huge gains.

The last thing I will say is that these watchlist are important for you to go over whether you are invested in them or not. Even for me they provide a great barometer on the market and the different sectors similar to an index. It gives us a clear picture of what sectors of the market are leading and which are lagging. It also tells us where the risk appetite is. So even if you are doing your own investing which is great these can help you out a lot in determining the weekly market trends and how you should be positioning.