In his latest video, Josh expresses cautious optimism about altcoins, noting that while some show early strength, the overall market remains uncertain.
He highlights Bitcoin (BTC) as the key factor influencing altcoins, stating that a BTC breakout could be a good opportunity, but if BTC declines, altcoins will likely fare worse.
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Josh points out that BTC hasn't confirmed a full bull trend, making the broader altcoin market speculative for now.
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Despite some individual altcoins like Sui performing well, Josh believes the overall trend remains bearish.
He cautions that short-term gains in a few coins don't indicate a full market recovery. Many altcoins are still below critical levels like the 200-day moving average, signaling weak momentum.
However, Josh acknowledges some positive signs, such as potential double or triple bottoms forming in certain altcoins, which might indicate stabilization. Still, he advises patience, as it's too early to confidently declare a market bottom.
