Altcoins as a whole are still in a bearish trend, and the trend hasn’t reversed. My view is that the major players behind strong altcoins are using Bitcoin’s back-and-forth volatility to aggressively shake out weak holders and accumulate coins, then ride Bitcoin’s next major rally. Strong altcoins can be thought of as spot Bitcoin without leverage, but with 2–4 times the volatility.
However, all altcoins have formed long upper wicks on the 3-day chart. I’m concerned that once Bitcoin begins its major rally, capital will flow into Bitcoin and leave altcoins without liquidity. That’s quite possible, so be sure to manage your altcoin exposure carefully and don’t take oversized positions.
However, all altcoins have formed long upper wicks on the 3-day chart. I’m concerned that once Bitcoin begins its major rally, capital will flow into Bitcoin and leave altcoins without liquidity. That’s quite possible, so be sure to manage your altcoin exposure carefully and don’t take oversized positions.