As the coin crypto BTC failed to make new lows past 39k, buyers stepped in further backing up the current value about 38k but below 41k. As we await for a new cycle on the weekly, and the month of January to end. As we observe the chart to the left as they co inside with each other in terms of movement and sentiment. I would like to point out this strategy will only work if buyers were to step in and support current price action towards the end of the month. Buyers would need to further consolidate into BTC because if that weekly candle continues to stay green with the long wick and body can signal a good support level before it rises further into to highs into 2024. If BTC stays positive i believe AVAX will continue to trend to the upside because when btc hit 39k avax was around 27-28 but when btc made a slight recovery volume started pouring into axax as well. Im suspecting we shall receive another rip to the upside before falling back down to the same price levels on both tickers 28 for AVAX and 40k for BTC then proceed upwards. If avax were to continue receiving bullish buyer pressure at this point the weekly and monthly candles could have reversal which would provide more upside.
Comment:
one day later from this post i had made, the monthly bearish candle is current a monthly bullish candle with a long wick on both ends which could signal further bullish upside towards the end of the month into February this last weeks price action and volume will determine the direction of btc>> for now i am leaning towards the bulls
Comment:
41396/and 42200 are current short term supports id keep a close look ats price action through the candles
infamousnicone