Scenario casting #Avalanche versus #Ethereum
as we go forward into 2024
The blast off from the lows has to be respected and is a significant show of strength
and shames other blockchains price performance these past few weeks
I'm looking at you #Algorand & #HBAR
This goes with the AVAX bottom idea. AVAX/ETH has formed a falling wedge and i would expect price to trend down/sideways as price retests the wedge as support. I would keep an eye out for bullish divergence to form for a bottom to be confirmed. Volume is declining very nicely indicating sellers have fallen off.
think all markets are essentially topped, so looking for best shorts. avax looks like it's at heavy resistance here vs eth. think it's likely the better short.
should drop ~10% vs eth.
think $avax will outpeform $eth here again on this next leg.
great bull divs formed on 4h.
last usd leg up $avax was the stronger long and better short on the way back down.
volatility has been insane with this pair if you can play the swings right.
steady lads.
17% to the top of the range
downtrend breakout
7 rejections of that downtrend line
8th time looks good for a clean breakout and reversal of trend
see how we go
