Bitcoin Wobbles, Sell Signal Triggers Alarm

Bitcoin's weekly chart indicates a potential correction, while meme coins and certain altcoins, including Jito (JTO), Bitcoin Cash (BCH), and BitcoinSV (BSV), have shown resilience over the weekend. This week holds promise, but investors should proceed with caution as altcoins such as Floki Inu (FLOKI), Pepe Coin (PEPE), Sui (SUI), Sei (SEI), Fetch.ai (FET), and SingularityNET (AGIX) are likely to garner attention.

Bitcoin Weakens, Alarms Ringing as Sell Signal Emerges

In a significant development, Bitcoin (BTC), the preeminent cryptocurrency, has triggered a sell signal on its weekly chart. This technical indicator suggests a potential correction may be imminent, potentially leading to a downtrend characterized by one to four consecutive red weekly candlesticks.

Despite this bearish forecast, the broader cryptocurrency market has witnessed a surge in strength over the weekend, with meme coins and select altcoins experiencing notable gains.

Altcoins Shine Amid Bitcoin Uncertainty

Promising meme coins, such as Floki Inu (FLOKI) and Pepe Coin (PEPE), have been trending upward, with PEPE exhibiting a particularly strong performance, recording a 10% increase in the past two days. Modular blockchains, including Sui (SUI) and Sei (SEI), have also garnered attention, although their weekend performance varied.

Artificial intelligence (AI) coins, represented by Fetch.ai (FET) and SingularityNET (AGIX), are also anticipated to attract investor interest.

Crypto Week Ahead: Key Events to Watch

The coming week holds significant events that could impact the cryptocurrency market:

• Monday, April 1: Floki Inu (FLOKI) Ask Me Anything (AMA) session
• Wednesday, April 3: ImmutableX (IMX) Watch Dogs game-related updates; Wormhole (W) and Injective Protocol (INJ) airdrop; US Federal Reserve Chairman Jerome Powell's speech at 16:10 GMT
• Thursday, April 4: Bitcoin Cash (BCH) halving event
• Friday, April 5: Nonfarm Payrolls (NFP) release at 12:30 GMT

Cautious Optimism amidst Correction Warning

While the sell signal on Bitcoin's weekly chart cautions of a potential correction, the strength exhibited by certain altcoins and meme coins suggests that pockets of growth may persist.

Investors should approach the upcoming week with appropriate caution, monitoring the performance of Bitcoin closely while identifying opportunities in the altcoin market. The key events on the calendar could introduce additional volatility, emphasizing the need for informed trading decisions.