Since the article on July 26th (the altcoin season that started in April has ended!) stated that the altcoin season ended around July 22nd, the market has been deteriorating. On July 28th, altcoins rebounded to the upper Bollinger band mentioned on July 26th, but now they have dropped to the lower Bollinger band on the daily chart without stopping the decline.
Bitcoin has closed below the daily BBI for several consecutive days, which is also a bad sign; the 5th wave is likely gone. The only question is where the next high peak is? It could be at the daily BBI, or it could be at the daily KC upper band.
Without the 5th wave, Bitcoin will likely drop back to 93,000 between August and September, filling the CME gap.
Altcoins need to pull back above or below the low point of April 7th. The overall decline is indeed significant.
There is no major market movement in the crypto space in the short term; everyone is returning to A-shares, military industry, semiconductor chips, and consumer electronics which still have a rebound market.
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