✴️ Avalanche Prepares To Crash

Avalanche produced a nice 480% bullish wave after hitting a low in September 2023... Pretty nice I should say.

➖ We can see how the volume on 11-December is lower vs 16-November.
➖ Until the top of wave 3 volume is rising.
➖ Wave 4 through wave 5 and now the correction (ABC) volume is dropping.

But the most revealing signal of all is the inverted cup or rounded top pattern, this signals that the top is in.

There can always be one final jump, one last surprise move before the correction truly starts but here the rounded top is quite telling and indicates that it is over.

AVAXUSDT also managed to close and stay below EMA21 on the daily timeframe.

👉 A crash or correction is about to happen... It should end in a higher low compared to September before long-term growth.

Namaste.

Comment:

It is amazing how fast everything can change, in an instant.
There is no coming back from this one, today's red candle.

Comment:

No recovery here, bearish bias continues to gain strength.

The next drop can happen with 1-2 days with the target being between 24-26, so a strong drop.

Prepare accordingly.

Comment:

Today Avalanche is moving below EMA21/10 after a lower high, which means that next stop is a lower low...

The charts don't like... The media does.

The chart said major correction incoming, the media said massive growth.

Which one are we getting now?

Thanks a lot for your support.

Namaste.