5 altcoins that could turn bullish if Bitcoin price stabilizes

The major United States stock market indices continued their decline last week as worsening macroeconomic conditions increased concerns of a global recession. The closed at its lowest level in 2022 and major indices recorded their fifth weekly close in the past six weeks.

Although (BTC) has only declined marginally this week, it risks closing at the lowest level since 2020. While a new multi-year weekly close is a negative sign, sellers will have to sustain the lower levels or else it may turn out to be a bear trap. The price action of the next few days is likely to witness heightened volatility as both the bulls and the bears battle it out for supremacy.

Crypto market data daily view. Source: Coin360BTC/USDT daily chart. Source: TradingViewBTC/USDT 4-hour chart. Source: TradingViewATOM/USDT daily chart. Source: TradingViewATOM/USDT 4-hour chart. Source: TradingViewALGO/USDT daily chart. Source: TradingViewALGO/USDT 4-hour chart. Source: TradingViewCHZ/USDT daily chart. Source: TradingViewCHZ/USDT 4-hour chart. Source: TradingViewQNT/USDT daily chart. Source: TradingViewQNT/USDT 4-hour chart. Source: TradingView

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