One of the best trading pattern, that you'll find in every market, are triangles. They are amazing because of a few key benefits:
Looking at AVAX/BTC we have a beautiful and clear triangle (it can be seeing as a bullish wedge also) that is breaking up the downtrend and giving us the best confirmation we can see: RETEST.
This can mean many things, the altcoin season may be coming soon, confirmation of AVAX strength over BTC and other coins, demostrating the good development of the AVAX network as fundamentals. But we should always have a target in mind.
So, if the retest is validated and we find support in the MA 50 weekly and the bullmarket band we will be targeting the ATH for AVAX and from there confirming the altseason or just a quick movement against BTC.
Remember that for this to happen BTC has to be bullish as, usually, when BTC moves up some altcoins explode.
- Very easy to spot.
- Clear way to measure them.
- They are continuation patterns, so you're not fighting against a trend.
- They are easy to indicate brakes or fakeouts.
Looking at AVAX/BTC we have a beautiful and clear triangle (it can be seeing as a bullish wedge also) that is breaking up the downtrend and giving us the best confirmation we can see: RETEST.
This can mean many things, the altcoin season may be coming soon, confirmation of AVAX strength over BTC and other coins, demostrating the good development of the AVAX network as fundamentals. But we should always have a target in mind.
So, if the retest is validated and we find support in the MA 50 weekly and the bullmarket band we will be targeting the ATH for AVAX and from there confirming the altseason or just a quick movement against BTC.
Remember that for this to happen BTC has to be bullish as, usually, when BTC moves up some altcoins explode.