Bitcoin and altcoins bounced last week following massive (40-70%) declines, but then prices faded.  BTC ended the week up mere +3.1% and Ethereum (ETH) was up +16.4% (vs prior week’s -24.7% and -41.0%, respectively).

Most altcoins are now sitting at or near critical support levels and trends have deteriorated. 

Our Signals Summary page indicates that very few coins remain in an Uptrend on Short- or Medium-Term basis.  Far more are in a Downtrend now (see table below).

Thus, the near term upswing could simply be a short-lived bounce.

Trading strategies should adopt to the environment, which clearly has switched from bullish uptrend to bearish downtrends (i.e. crypto bear market), in general.

Here’s our view on what traders could do (read in blog):

1. Buy dips and try to time the bottom (not recommended in downtrend).

2. Wait for prices to stabilize and for momentum upswing.

3. Use Patterns for swing trading.

4. Find Patterns with bullish breakouts.

5. Use Patterns signals to Buy and Short Sell – market neutral portfolio

See top 50 coins by market cap “Performance” tab on our platform (see charts below). Check our curated charts for technical analysis of top 30 altcoins.