AVAXUSD Cycles with SineWaves. Is it accumulation at the bottom?Avalanche has been one of the surprises of 2021 and despite the market correction since November, it is seen consolidating in rage. I've spotted an interesting cyclical behavior of AVAX, which can provide a fairly accurate pattern to long-term investors.
As you see it is going through phases of accumulation - rise - sell off. There is an underlying Fibonacci Channel that is supporting its long-term uptrend since the September 2020 market bottom.
I've applied the Sine Waves for a better understanding of AVAX's cyclical behavior and as you see it shows that we may be currently half-way through the new Accumulation Phase. The 1D CCI hit last week its long-term Support Zone and has been rebounding since. Such hit and rebound sequences are only seen during AVAX's accumulation phases. Based on that pattern, it is possible to start seeing the new Rise Phase towards the end of February but if you have a long-term investor mind-set, this model shows that Accumulations are done on market bottoms, so the time to buy is now as if the rest of the market rises before, AVAXUSD should follow.
The next target for a Higher High is the 1.5 Fibonacci extension around $315.00.
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