AVAX is at its point of control (price level with highest volume traded over entire coinbase price history) while appearing to be in a newly established descending wedge reversal consolidation pattern. Granted, buyers did marginally outweigh sellers at this level. 60 period money flow is steadily remaining curved up and approaching a positive crossover.
I see 3 paths, one as a short term breakout scenario, and the other two as longer term consolidation with the potential of making new lows before an eventual macro reversal to the upside. Bollinger band width is pinched on this timeframe, potentially signalling some higher volatility will be in the cards over the coming weeks and months.
AVAX has been demolished and i'm building a bag to hold as we approach the next btc halving around a year from today.
I see 3 paths, one as a short term breakout scenario, and the other two as longer term consolidation with the potential of making new lows before an eventual macro reversal to the upside. Bollinger band width is pinched on this timeframe, potentially signalling some higher volatility will be in the cards over the coming weeks and months.
AVAX has been demolished and i'm building a bag to hold as we approach the next btc halving around a year from today.
Comment:
Closer look at vwap and volume profile, taken from different points.
