As we noticed a few weeks ago, many of the alt-coin charts were starting to look good with volume picking up and it seems that we were right with the overall market now climbing.
We are definitely short term bullish again on all alt-coins and Bitcoin. We are expecting a much bigger rally on altcoins, but as we’ve stated before, we are believers that in markets, history repeats itself and have noticed striking similarities in the market of 2014 and the bear market today.
it’s important to note that in 2014, after a very volatile intitial drop in price, there was a bounce and then a slow bleed which was then met with multiple very high volume weeks. So far we have not had a slow bleed nor have we had any high volume weeks except 1 day on the 6th of feb.
We are bullish to the 11-11.5k area, a huge resistance point for Bitcoin where we will re-evaluate the situation. In the meantime we feel alot of alts will outperform BTC.