The price of Bitcoin and Ethereum has once again hit new lows today, but many altcoins have already stopped making new lows.
$BCH $ZEC Yesterday, while the overall market was still falling, they began to rebound. This situation indicates that there are major funds buying at the bottom; retail investors alone cannot drive the price up. Additionally, BCH almost formed a V-shaped reversal on the hourly chart yesterday, and after a slight adjustment today, there is a higher probability of continuing to rise in the future. As for ZEC, it has already reached a peak on the hourly chart this morning, and during the day, we will see if it can stabilize at the support level of 290. If it can stabilize, there is a high probability that it can reach another peak on the hourly chart.
By the way, let's take a look at $UNI and $AVAX. The hourly trends of these two coins are very similar, and they also did not make new lows today. The bulls are not particularly strong, but they are worth keeping an eye on. In the future, there is a high probability that they will move in a sideways manner to build a base or have a slight rebound. To buy at the bottom, one can only refer to the 5-minute and 15-minute charts for short-term trades. For the 4-hour major reversal, UNI needs to break through 4.4, and AVAX needs to break through 11. In the short term, this is very difficult; at least a week of adjustment at the bottom is needed before a breakout is possible.
