🔥 AVAX Bearish Channel Correction

16 בפבר׳ 2021

After a massive bull-run during January and a good part of February, it seems that AVAX is cooling down. On the chart you can clearly see the emergence of a bearish channel, which I think it will follow in the short term. Bitcoin seems to reverse from the 50k resistance, leading to more uncertainty and therefore a decline in the value of alts.

On the chart I’ve marked two potential areas of resistance, S1 and S2. These areas are based on recent swing lows. Do your own due diligence.

Happy trading!