With bitcoin being in a state of uncertainty, AVAX has been in a downtrend from the 150 area.
Reasons:
- Lorentzian classification sell signal plus
- ML Pivots breakout area at 26.72 (possible resistance)
- Low volume in the area meaning possibly little resistance to a downwards movement.
- If it does manage to break this consolidation area, the VPVR volume indicator shows little market participation until 16.00 indicating the potential for a free fall.
Considerations:
- We have not yet fully broken a previous consolidation zone, however the distance from the ML trendlines suggests a significant momentum down.
Please note this is only an idea and not advice on whether you should or should not risk your money. This is not financial advice. Good luck.
Reasons:
- Lorentzian classification sell signal plus
- ML Pivots breakout area at 26.72 (possible resistance)
- Low volume in the area meaning possibly little resistance to a downwards movement.
- If it does manage to break this consolidation area, the VPVR volume indicator shows little market participation until 16.00 indicating the potential for a free fall.
Considerations:
- We have not yet fully broken a previous consolidation zone, however the distance from the ML trendlines suggests a significant momentum down.
Please note this is only an idea and not advice on whether you should or should not risk your money. This is not financial advice. Good luck.