It’s TACOOOOO TUUUEEESSSDAYYYYY 🌮. While I can’t bring you tacos I CAN bring you Technicals, Trades and everything you need to make money in crypto.

In Todays Digest:

• Tuesday Technicals 📊

• Tuesday Trading Ideas 📉

• Crypto Market Analysis 📈

• TradFi Market Outlook 🧐

• Tweet of the Day 🐦

Before we get into it, remember to join our Discord for FREE for more breakdowns, a chatroom, and daily trading signals.

We have been on 🔥🔥🔥 this week 👀

The Latest Breaking News 📰

•  Binance’s BNB Chain launches opBNB, scaling solution based on Optimism

• Do Kwon receives 4-month jail sentence in Montenegro

• Fidelity’s exploring a takeover of Grayscale or a BitcoinETF filing

• Ethereum developers may raise validator’s maximum stake to 2048 ETH

• Mastercard will extend its efforts crypto sector with a trademark application

Tuesday Technicals 📊

If you're an investor, this little gem can help you analyze how altcoins are performing compared to the almighty Bitcoin. So, let's strap in and get started!

The Altcoin Season Index is a metric that measures the number of top 50 altcoins that have outperformed Bitcoin over a 90-day period. We take this count, divide it by 50 (the number of alts in the index), and multiply the result by 100 to get a nice percentage that represents the Altcoin Season Index.

Easy peasy, right?

Now, when less than 25% of altcoins in the index are rocking a higher ROI than Bitcoin, it's what we call a 'Bitcoin season.' Basically, it means Bitcoin is showing off and outshining the majority of altcoins.

On the flip side, if more than 75% of altcoins in the index are showing Bitcoin who's boss with their higher ROI, we've got ourselves an 'Altseason' where altcoins steal the limelight.

The Altcoin Season Index is a valuable tool for investors, giving them insights into how altcoins are performing compared to Bitcoin. It's like having a compass in the ever-changing crypto landscape.

As of the latest data, the Altcoin Season Index is sitting at 20. This means Bitcoin is strutting its stuff and outperforming most altcoins.

It's a 'Bitcoin season,' folks!

With a value of 20, we're looking at only 20% of the top 50 altcoins managing to achieve a higher ROI than Bitcoin. That's quite a strong performance from Bitcoin, showing weakness amongst the alts.

In times like this, it means there is uncertainty in the market and investors are waiting to choose a side - bullish or bearish.

(In the BTC Analysis section of this article, we go over what we expect from BTC.)

Tuesdays Trading Ideas 💸

Today we took on a LINA long. Plenty of technical aspects looking good and decent Risk to Reward.

For a full breakdown of why we take trades and to ask any questions you have, join the Discord!

Crypto Market Update 📈

BTC, the big player in the game, has been showing off its superpowers by staying strong even when the market took a bit of a tumble. While other altcoins were being dumped, BTC managed to keep its cool.

Now, let's check out five portfolios that have an equal mix of the most popular cryptos based on their market value. It's fascinating to see that BTC only dipped by a modest 3% since it reached its peak back in March.

How did it pull that off?

Well, it seems like a bunch of investors seeking safe havens turned to BTC, and also, there's been more clarity in terms of regulations on whether it's a commodity or not.

On the flip side, most other sectors of crypto didn't have such a smooth ride. They experienced some hefty drops, ranging from 30% to a whopping 46% during June. Ouch!

Layer 2 tokens took the biggest hit. But guess who came out as the superhero of the decentralized finance (DeFi) world? None other than Maker's DAO native MKR token! While others were struggling, MKR managed to score a sweet 6% gain in June, going against the overall negative trend.

So, even though the crypto market has had its ups and downs recently, it's always thrilling to see how different coins perform. BTC held its ground, and some took a beating, but there were a few shining stars like MKR that showed us the power of resilience.

Now lets look into the charts…

BTC is currently flirting with the top of the bearish channel as shown on the chart below. This is a crucial point for BTC, as we look to see if we can break the downtrend.

A break and 4H candle closure ABOVE the black trend line would indicate a bullish sentiment and we would look to make a bigger move to the upside. If we fail to make a move above, then we expect a move back down to the $25k support.

TradFi Market Outlook 📰

Stock futures are mixed on Tuesday morning as the positive momentum from the previous week failed to carry over.

The SP500 and the Nasdaq delivered their strongest weekly performances since March, exhibiting a rise of 2.6% and 3.25%, respectively.

Notably, the S&P 500 achieved its fifth consecutive positive week, marking a significant milestone since November 2021, while the Nasdaq accomplished its eighth successive positive week, replicating a feat achieved back in 2019.

The SP500 and Nasdaq are both pulling back from its meteoric rise and are looking for clear direction on what to do next.

The NASDAQ wasn’t able to break above its psychological resistance of 4,500 and has since broken below a rising trend channel on an intraday basis just like the RSI broke below a rising trend line, advocating for short-term pressure ahead.

Tweet of the Day 🐦

Pretty funny tweet I seen earlier today. BBC reporters ON AIR, say Tate had over 21 million BTC…. more than the total supply lol

Just shows news corps will talk about anything.

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