BTC and altcoins flashed a few bullish signals today, but traders say $38,000 is still the level Bitcoin needs to close above before a reversal can begin.

BTC’s attempt to reclaim $40,000 was thwarted by bears, but any consolidation within the current range could benefit small and large-cap altcoins.

BTC is struggling to hold on to the $40,000 level, but a few analysts say cryptocurrencies might decouple from equities in the coming months.

BTC price is faltering right at the 61.8% Fibonacci Retracement level, triggering a slight pullback in altcoins and sapping the momentum out of this week’s initial breakout to $45,000.

BTC price continues to consolidate, a process that gives altcoin traders the opportunity to range trade and secure short-term gains.