Recently, many people have been talking about whether altcoins have bottomed out. I would like to share some of my views: it may not be the best time to buy the bottom yet.
Although the altcoin market has shown signs of rebounding in recent days, from a technical analysis perspective, the prices of many altcoins have fallen back below the moving average pressure on the daily chart, which shows that the market has not yet given a clear buy signal. Therefore, the buying time for altcoins may not be ripe yet, and a more favorable time may come in August.
In this wave of rebound, some altcoins have risen by more than 20%, showing that there is a certain momentum in the market. However, you should be cautious when considering participating in these currencies, using the resistance level formed during the previous decline as a key indicator to judge future trends.
In view of the current market environment, it is recommended to wait and see for the time being, and avoid blindly chasing the rise or buying the bottom. It is a more stable strategy to observe the market calmly and wait for a clearer buy signal.