Avax had a really powerful move recently before this downturn in BTC. My short term target was hit, which generally means I stop buying for a bit as a local top is likely in. I have taken this opportunity to average in on this base, this expanding wedge or asymmetrical megaphone presents a problem though. Note the break of OBV to the downside, if this is not just a flush this is bearish. Given that this is just a 4-hour chart we could see more downside to the purple long-term trend line. If BTC really dumps I think we could see 41$ again.
-In summary, I am very conflicted on direction here, BTC decides where we go. An expanding pattern such as this means more volatility than we have seen.
-A high of 70 if AVAX depegs from BTC
-A low of 41 with a more likely retest of 48 is most likely.
-In summary, I am very conflicted on direction here, BTC decides where we go. An expanding pattern such as this means more volatility than we have seen.
-A high of 70 if AVAX depegs from BTC
-A low of 41 with a more likely retest of 48 is most likely.