This technical analysis by no means, is a financial advice and this only works for me and I personally think post the best analysis I can, Please do you own research.
Every coin/token in this market is affected by the price of bitcoin. My expectation is, if price of BTC drops to the range of 19k-21k, dollar cost averaging these prices are ideal for a long term investment into AVAX. We still can have a short squeeze, but long term trend is down ward. Luna Foundation Guard selling made things worst as well and short term investor might panic sale a bit more.
In my strategy, I used Volume profile and Ichimoku to find the best level of support and demand.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.