// $SEI
> Altcoins were indeed forming bottoms
> And indeed it took a little more time
Even more confident now in these bottom structures now as they show clear equal highs and lows below the range lows.
SEI is reclaiming the range low. Would like to see either a pullback into grey (range low zone) or a push above the trendline.
I believe there is a high probability that many Altcoins are forming bottoms.
But, be aware that even if they form a bottom, they often need time to heal the pain of the past month's destruction.
For example, SEI bounced 60% into HTF resistance.
Be cautious of FOMO, as, again, even if we form a bottom, they tend to form a range after such a brutal market.
Even if we’ve bottomed, a range forming first could still mean a -30% to -50% move to the range lows.
Not saying we need that to happen, but it would be something that happens more often than not, healthy, but also ideal to find setups and get in.
Anyway, if the chart looks like this (a big 50%+ move into HTF resistance), I would either wait for a reclaim and clear acceptance above, or a dip into the lows of the potential bottom range, for a much better risk-reward.
Buy red, buy support, not green into resistance.
13.69K
89
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.