Bitcoin 

BTC

$17,423

 and most major altcoins have been relatively quiet during the holiday period from Good Friday onward. This suggests that cryptocurrency traders are not initiating large bets during the period when the United States equities markets are closed. That could be because of the tight correlation between Bitcoin and the S&P 500 and the uncertainty about the equity market’s performance in the next week.

While some analysts expect weakness in the near term, others believe that Bitcoin could be in a consolidation phase with a large portion of its upside in the four-year halving cycle yet to come. Josh Olszewicz, head of research at alternative asset management firm Valkyrie, said: “Interesting. Maybe we never got the blow-off top...because it hasn’t happened yet.”

Although Bitcoin’s price action has been lackluster in the past few days, some altcoins, which found a place in Coinbase’s list of 50 crypto assets under consideration for listing, have witnessed strong trending moves. This suggests that the action has become more coin-specific while the broader crypto market awaits fresh triggers to start a trending move.

Could Bitcoin and select altcoins start a directional move in the next few days? Let’s study the charts of the top-five cryptocurrencies that may be showing early signs of a recovery.