Welcome to our latest crypto market outlook for June 11th!
While BTC has been hovering within a tight range, ETH and altcoins have been gaining strength this week. This is typical market behavior during an altcoin season. It’s time to shop for your favorite altcoins. Here are mine for this week: AXL, CGPT, ETHFI, POLYX, and TON.
Today, we will cover the following topics:
– BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
BTC analysis
This week, BTC is currently retesting its all-time high.
For another major bullish wave to begin, a break above the $112,000 all-time high is needed.
As per our last market overview, BTC broke above the upper bound of the red channel, activating the bullish scenario.
As long as the $104,000 level holds as support, the overall bias for BTC remains bullish.
5 Altcoins Analysis
As per our last AXL update, it rejected the $0.30 support level like a charm and has surged by over 70% since then.
As long as the bulls remain in control, a continuation toward the $1 round number and resistance level would be expected.
The bulls already took over after breaking above the $0.47 level, shifting AXL’s phase from accumulation to markup.
As long as the $0.40 level holds as support, the only way from here is up.
POLYX has also rejected its support between $0.10 and $0.125.
As long as the bulls remain in control, a continuation toward the upper bound of the range at $0.20 is expected.
For the bulls to take over and start the next big bullish leg toward the $0.20 round number, a break above the last major high marked in red at $0.15 is needed.
As per our last Coin of the Week article, CGPT rejected the $0.10 round number and has been trading higher since then.
Yesterday, the bulls confirmed control after breaking above the $0.112 major high marked in red.
Our target is the upper bound of the range at $0.15.
After breaking above the $0.73 structure marked in blue, ETHFI’s momentum has shifted from bearish to bullish.
This week, ETHFI has been bearish, trading within the falling red channel as a correction phase.
For the bulls to take over again and initiate the next impulsive move toward the $2.50 round number, a break above the upper red trendline is needed.
TON rejected a strong demand and support zone this week between the $2 and $3 round numbers.
As long as the $2 support level holds, we will be looking for long opportunities targeting the red structure at the $5 round number.
For the bulls to take over in the medium term and start pushing toward the $5 mark, a break above the last major high marked in orange at $3.60 is required.
Quotes / Advices
Patterns don’t work 100% of the time. But they are still critical because they help you define your risk. If you ignore patterns and focus on hunches, feelings, and hot tips, just forget about achieving consistency.
~ Ifan Wei
Closing Remarks
In summary, BTC continues to consolidate while ETH and altcoins show notable strength — a classic sign of altcoin season.
BTC remains bullish above $104,000, with a breakout above $112,000 needed to ignite the next leg up.
AXL surged over 70% after bouncing off support, and POLYX is eyeing $0.20 if $0.15 breaks. CGPT remains bullish, targeting $0.15 after reclaiming $0.112.
ETHFI is in a correction phase but holds a bullish bias above $0.73. TON defended the $2 zone strongly, and a break above $3.60 could lead to a rally toward $5.
