Despite being bearish for the past week and targeting very low prices for some coins which made some people upset, but as a trader I don't marry my analysis and will dump it if things change.
And I am now claiming that we have probably bottomed on the crypto bear market.
There were a few happenings that made me come to this conclusion.
Fundamentals
1. There was a massive liquidation of longs at bitfinex and probably other exchanges, also means people suddenly turn bearish.
2. The heavy futures trader has had the majority of their positions liquidated from the OKEx debacle. (most likely longs).
3. The CFTC report shows that Institutional investors has started to go long on Bitcoin futures and increasing their positions since last week.
4. The article about how Bitcoin has been manipulated was distributed at an opportunate time that suggests people to sell off their holdings.
5. People on twitter started blaming others that got them into crypto and news of how people lost their live savings buying bitcoin have started to circulate, doom and gloom typically signifies a bottom.
Technicals
1. Yesterday's daily volume was the highest since this fall from 11700 started but we did not crash through $6000.
2. The sell off looks a little overextended, even if we have not find a bottom yet, there should be a good correction first.
3. Price did go below the Daily RSI 30 level and rebounded.
I will be wrong if price breaks below $6000. But the near term move is definitely up for now.
So buy any alt coins that has good potential, but remember Bitcoin is king.