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Most altcoins currently show a bottom accumulation pattern, but a true bottom requires a second retest to be confirmed. Therefore, buying at the bottom now is considered a left-side trade with low certainty and high risk. Those who are more conservative may wait for a second retest at the daily level to confirm a double bottom pattern before entering the market. Although this means missing the lowest point, it offers higher certainty and significantly lower risk.
If we break down most altcoins by time cycle, they are experiencing a 12-hour level pullback to new lows, showing a divergence pattern in the 6-hour or 4-hour pullback with a bottom divergence, followed by a rebound to the pressure level of 1-2 hours. Next, we should expect a decline (consolidation) to form a bottom at the 1-2 hour level, and then continue to rebound to the 4-6 hour pressure level.
In simpler terms, there will still be a downward retest at the hourly level, and after several days of consolidation at the daily level, a decent upward trend will emerge.
Once the daily level rises and reaches a certain high point, another daily level second retest will occur, leading to the formation of a daily level double bottom pattern, confirming the bottom. This entire process will span through February.
In summary, the altcoin season is still expected to appear in March and April.