Altcoin analysis: Bull run ahead? Or wash trade manipulation?

Disclaimer: The article is purely for reference purpose, and is not a signal or an investment advice. You may buy on the recommendations, but I urge people reading the article to do their own research before opening or closing trades.

Bitcoin is holding strong above 7400 at the time of writing, up from the previous day's 6300-6400 as several altcoins post two digit gains.
There were several reasons for the pump, many analysts calling 6000 the bottom, several technical indicators pointing upwards, several positive sentiments like Bitcoin ETF, Coinbase custody, Institutions buying in, Blackrock , and all.
Lets leave those analysis as of now and come straight to the point. If we see market sentiments before a few days, especially when coindesk, cnbc, and all started to post positive about Bitcoin prices, we saw huge volume spikes on several altcoins, and several altcoins posted double digit gains in a day. But prices quickly went down over the next couple of days. Lets have a look at the charts to understand it in a better way. At the time of writing, I am holding several altcoins, like Cardano, VeChain, Zencash, Ncash, PundiX, Omisego, Request network, and a few others, but this article is not just biased towards these coins alone.
I am posting this mainly because almost all the trending altcoins, with more or less good projects are facing similar trend. This kind of similar pattern is not seen often, hence I would request you all reading the article to keep an eye on the coins mentioned. I have not covered all coins, so if you come across other coins having similar trends, feel free to let everyone know in the comments below.

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Charts are taken from binance just for reference purpose, but you can find similar trends on many exchanges.

So lets come to the first chart: Bitcoin:

On the 1D chart, we see a huge green volume spike, probably the largest on binance so far, when it hit at sharp $6k. Looking at the volume spike, I do felt it was the bottom, because all major players accumulated it it seemed. Prices went up, and down again, after several failed rallies, and a double bottom was formed along with a lower low of 5750 on binance.

After several days of sideways movement and a series of FUDs from tbe mainstream media, we saw sudden change in the market Sentiments.
It was purely the charts speaking most of the time, because several indicators started pointing upwards, but due to some FUDs, prices didn't pump up actually as expected. It did make a higher low yesterday, but I'll keep you guys posted on where its going. Notice the volume before the pump. It is lesser than the other major spikes, but keep an eye on it.

I am inserting some Altcoin/USD charts as well, for more reference.

Cardano ($ADA):
Check out the volume spike on ADA/USD just before the coinbase announcement. A higher low already confirmed it bottomed out around 2000 satoshis. And coinbase announcement was just in time for people to FOMO into the coin.

Nucleus Vision ($Ncash): People FOMOed on it before as well, prices went up above 500 satoshis before as well. But this one is a bit strange, because despite lack of news, there was an astronomical surge in volume suddenly, when it was trading around 190-200 satoshis. Prices went up till 280 satoshis, but came down quickly. I do feel whales accumulated a lot of this token.

VeChain ($VEN):

This was one more surprise, because in spite of the superb project, the prices tanked like anything on the 4H chart. Just when everyone was about to lose hope, the price seemed to be bottomed out, a d we could see huge spikes. But that was quite late. Out of sync with the other altcoins. I hope we'll see a double bottom around this area before it makes its move up. So keep an eye on this coin.

PundiX ($NPXS): Some people call this a Shitcoin, but I feel its a pretty good coin with good application, but with a lot of flaws. Maybe thats why people call it so. Notice the sudden volume spike in this coin. I recommended people to buy this token around 50-55 satoshis.
A double bottom at 50 satoshis (Low at 49 satoshis, and higher low at 50 satoshi) makes it a good buy. I call this a higher low, because due to the very low price, even a small price difference affects charts.
Keep a small amount in your portfolio which wont affect entire portfolio in case something goes wrong.

Cardano ($ADA /BTC)
Same volume spike as we saw on the ADA/USD market. Nothing unusual here though.

Aion ($AION)

There was a huge volume spike, but red. And sometimes green/red volume spikes can be misleading.... And notice the higher low it is making.

Neo ($NEO):

NEO/BTC showed several sustained volume spikes just when we saw prices almost bottomed out. I personally dont hold it right now, but it would be a nice addition to a portfolio.

Stellar Lumens ($XLM):

At the time of writing, prices are pumping up. Take reference of the volume changes and positive sentiments like the coinbase announcement, and IBM project.
Look at the sustained levels of high volume when prices were down, and the sudden volume spike before the pump.
I feel this coin will go a long way towards adoption.... I wouldn't recommend to FOMO now, but keep an eye and watch it for sometime. Accumulate over a long period of time if you want.

Po.Et ($POE)
Similar trend with a huge volume spike and a higher low with a double bottom.

Salt ($SALT)

A bit late than other altcoins, but notice the volume surging up recently.

Neblio ($NEBL):

Prices seemed to stabilize just before the high volume spike. Double bottom formed, but no higher lows. So keep an eye.

Link ($LINK)

A higher low, like other coins, but volume spikes are not clear.

Bluezelle (BLZ):

A clear double bottom with high volume spike and a higher low. Keep an eye on this coin.

Steem ($Steem)

Ah. The cryprocurrency of this platform. Notice the clear high volume spikes along with the possibility of a double bottom and a higher low. Enter on confirmation. Or else keep on earning steem by writing good articles and contributing to the community And HODL!! 😎

Qtum($QTUM)

QTUM/USD made a similar move, with an astronomical volume surge on the USDT market.
Though a higher low isn't established, I'll be looking at this coin for confirmed entry.

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But don't get fooled by whales. Sometimes whales do wash trades by forming groups and buying and selling amongst them to increase volume. I hope this is not the case.

That's all for today guys. Hope you liked the insights. I didn't do a detailed analysis as it would take up a lot of time, but I will keep you guys posted.

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