Today alts are having a nice bounce perfectly logical after yesterdays pullback. Be careful and don't get into late longs. At alts index chart you may see that despite overall uptrend current bounce has very clear borders and most probably won't get much further than ~1640 resistance. Meaning that next week we may see them to pullback lower before it will be ready to resume uptrend.

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Alts Index chart reminds of Ethereum for obvious reasons. At the same time this reminds of rising wedge and these patterns often lead to bearish break downs. As you can see most of volume came from recent bull trap. So this zone should have lots of resistance. Surpassing it will be crucial for further trend development.

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