Josh sees short-term relief in altcoins but says it’s way too early to call a bottom. Dominance still favors BTC, and most altcoin charts remain technically bearish despite the bounce.
📉 Still in Downtrends:
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Altcoins are showing signs of life, but technical signals (like cloud crosses, higher highs, and trend shifts) haven’t confirmed a turnaround.
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Many coins are just reclaiming the previous week's drop — nothing more.
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ETH, SOL, ADA, LINK, and others are still in deep downtrends, failing to hold any recent lows.
🧭 BTC Dominance Still Strong:
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BTC dominance continues to climb, meaning Bitcoin is still outperforming alts.
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Until dominance reverses and starts trending down, Josh prefers BTC and macro plays like MSTR.
⚙️ Macro Conditions Matter:
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Tariff pause helped reduce volatility (VIX down), creating a more altcoin-friendly backdrop — but it’s not full QE or easy money yet.
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For real altcoin momentum, Josh wants to see:
Key Highlights:-
VIX < 20
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Fed signaling the end of QT
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BTC holding above $90K
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ETHBTC chart flipping bullish
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🔍 Relative Plays:
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Josh is watching Coinbase vs. Total 2 as a proxy for altcoin sentiment.
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Also looking at MSTR vs. Solana, where MSTR keeps outperforming, acting like a leveraged BTC play.
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Meme coins like Fartcoin (yes, seriously) are showing short-term strength, but he sees them as noise until broader trends shift.
🛑 Not There Yet:
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Charts show oversold conditions, but that alone isn’t enough.
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He wants to see higher highs, bullish TK crosses, and closes above trendlines before he believes the bottom is in.
Bottom Line: Josh says the bounce is a nice breather for altcoins but cautions against FOMO. The trend is still bearish, and confirmation is key. Until BTC breaks out and dominance rolls over, it’s a “wait and watch” market for alt lovers.
