Range buying from Bitcoin could trigger buying in ADA, ATOM, FIL and EOS this week.

Last week’s decline in US stock markets extended the market’s losing streak to three consecutive weeks. For the first time since 2019, the Nasdaq Composite has fallen for six days in a row. A negative market reaction to August’s seemingly positive jobs report suggests traders are worried about the Federal Reserve’s future actions and their impact on the economy.

Weakness in US stock markets pushed Bitcoin (BTC) back below $20,000 on September 2, and bears kept the price below that level over the weekend. This brought Bitcoin’s market dominance down to just under 39 percent on Sept. 4, the lowest level since June 2018, according to CoinMarketCap data.

Daily View of Crypto Market Data. Source: Coin 360

Although it is difficult to call the bottom negative, investors who believe in the long-term prospects of cryptocurrencies can take the opportunity to gradually build lower levels instead of trying to catch the bottom. However, investors avoid chasing price increases during bear market rallies and look to buy when prices drop to strong support levels.

If Bitcoin makes a recovery, select altcoins could go higher. Let’s study the charts of the top-5 cryptocurrencies that look strong on the charts.