Comprehensive analysis of the daily time frame: Are cryptocurrencies approaching a reversal point?

If most pairs follow the current trend shown on BTC/USDT, this reflects the dominance of the general market sentiment. Here are some points to deal with:

1. General market sentiment:

General downward: indicates oversold conditions in most pairs, which may open the way for bullish rebounds soon.

Trading with caution: avoid high-risk trades until clear reversal signals appear.

2. Alignment with indicators:

If other pairs show similar indicators (low RSI, negative MACD, Bollinger at the lower bound), this increases the likelihood of oversold conditions in the market as a whole.

3. Unified strategy:

If you trade multiple pairs, use the same criteria: watch support and resistance levels carefully.

Focus on highly liquid pairs; they will often show clearer and less volatile signals.

General recommendation:

Wait for strong reversal signals before buying.

Use a stop loss when support is broken in any pair.

If the decline continues, consider short-term trading with the market trend.