This monthly public webinar is hosted by Crypto Waves, focusing primarily on Bitcoin and altcoins. The session began with introductory remarks about the webinar series and participants were encouraged to engage with the host on Twitter.
The host, Ryan Wilday, sees a significant opportunity in Bitcoin, indicating the altcoin market is relatively poor. The discussion emphasized Bitcoin's potential with observed price targets and structures that may suggest upward movement to $125K if current support levels hold. A sustained break below $66K is seen as a warning sign.
The altcoin market was described as struggling, and may provide poor returns into the end of the current bullish cycle. Some short trade setups are beginning to emerge, though much of the focus was maintained on Bitcoin, as altcoins were considered less favorable in the current market landscape.
Ryan emphasized the importance of risk management in trading, recommending that participants not chase trades and instead focus on establishing clear support and resistance levels. Strategies discussed included scaling in during dips and being cautious with any potential B-wave trades, which often lead to traps for investors.
Ryan invited questions and noted that specific requests for chart analysis would be addressed separately, as the public format is not open to new requests. General advice about understanding market use cases and other topics would be shared in future webinars.
There is an anticipation of significant price movement in Bitcoin, and potential trading opportunities will be monitored closely as market conditions evolve. Participants were encouraged to develop a strategy based on their risk tolerance in light of current market dynamics.
Overall, the session provided insights into market conditions for Bitcoin and altcoins, along with practical trading advice and risk management strategies.
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