AVAX has been trading in a bearish channel since it hit its all time high a week ago.
Today, it confidently broke out of said channel, following Bitcoin's bullish move.
At the moment, Bitcoin is experiencing a small bearish correction. AVAX, on the other hand, appears to be unaffected by said correction. This leads me to believe that this break-out will continue to produce bullish price action in the coming days.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.
Happy trading!
Today, it confidently broke out of said channel, following Bitcoin's bullish move.
At the moment, Bitcoin is experiencing a small bearish correction. AVAX, on the other hand, appears to be unaffected by said correction. This leads me to believe that this break-out will continue to produce bullish price action in the coming days.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.
Happy trading!
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