This is one of the fine, moderate, bouldering problems in the Alcove. Its overhanging nature and the potential nasty landing (pre-pad days) made it as much a mental challenge as a physical challenge. I understand one fine climber, Geoff, actually broke his back on this problem.
The start isn't too bad. It's the last part of this problem that involves a long reach on less-than-buckets that make it challenging. I've come to understand it's considered V3 now.
This starts near the center of the overhang of the Alcove. Its start is near the beginning of the left-angling crack/ramp. It is left of the moon scoop.