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20.12.24 - is AVAX ready for the party?📈🚀 Bullish or Bearish on AVAX? Let’s Dive In! 🌟 Hey everyone! 🙌 Here’s my take on AVAX – a crypto with big potential but at a critical juncture! Key Levels to Watch: 🔼 Resistance Levels: $50.27 (0.618): Immediate resistance, bulls need to conquer this! 🏔️ $65.39: A major swing high to aim for. 🏆 $92.13 (0.382): Larger Fibonacci retracement – the moon’s next stop? 🚀 🔽 Support Levels: $37.49 (0.786): Closest support, critical to hold! 🛡️ $23.97 (0.886): The key level below if $37.49 breaks. $8.55: Historical low – long-term support in case things get messy. 📉 What’s Happening Now? The chart still looks bearish on the macro level. AVAX has yet to reclaim critical levels. Breaking below $37.49 could send it spiraling toward $23.97, but holding this support and breaking above $50.27 would be a game-changer for bullish momentum! 📈🔥 Global Perspective: 🌎 Bearish Signs: The recent rally hit resistance hard, and failure to hold support suggests the downtrend may continue. 🌟 Bullish Hope: A decisive breakout above $50.27 could spark a rally, first targeting $65.39 and then reaching for $92.13! It’s a pivotal moment for AVAX! Will it hold the line and climb, or crumble under pressure? Only the market can decide of course. I would say, odds are 60/40 for bullish scenario! I wish it goes up to the sky and break previous highs! #Trading #AVAX #Crypto #SupportAndResistance #Investing Share your thoughts below – bullish, bearish, or just watching? Let’s see where this journey takes us! 🤑💎
Long
by Expate
Elliott Wave: A Running Flat?This consolidation is a bit confusing from an Elliott Wave perspective. My current working hyposthesis is we are in a giant (somewhat enlongated) running flat, with waves A and C being zig zags, and B being an expanding triangle. This being wave 4/5/5 for the cycle. Overall, on higher time frame though, a running flat seems to appear. Correction is not complete yet however so currently unsure. My previous analysis (one posted before this one) and the guideline of alternation both suggest that we won't have a big drop toward 70-80K or whatever. However this of course is always possible. Markets will do what they will do!--If this does occur, however, it will likely be a 'fake-out' or 'bear trap' to the downside and will be resolved quite quickly.
by Ian_Carsen
AAVE thesis by Titan_KarmaMarket Overview The current market sentiment suggests a moderate bullish outlook, with a recommendation to HOLD or BUY the existing position. The asset is trading at $305.57, slightly below the open position price of $305.60, indicating a marginal decline but within a consolidation range. Key Technical Indicators Stop-loss: Positioned at $300.00, providing a safety net against potential downward volatility. Take-profit: Targeted at $310.00, reflecting a reasonable resistance level to maximize gains. Exit Point: Advised at $305.81, offering an opportunity for partial profit-taking just above the current price. Confidence Level The confidence level for this strategy is 75%, signaling cautious optimism. While the risk-reward profile is favorable, traders should remain vigilant for shifts in price momentum. Correlation with BTC The asset shows a neutral correlation with Bitcoin at 0.05, implying minimal influence from BTC's price movements. This provides room for the asset to move independently based on its own market dynamics. Position Analysis Current Open Position: One long position opened at $305.60, showing negligible unrealized loss. Short Positions: None active, suggesting a lack of bearish sentiment. Risk Management Strategy Tight stop-loss ensures downside protection at $300.00, while the take-profit level at $310.00 secures a favorable upside. Traders should monitor the $305.81 exit point for partial profit-taking and re-evaluate market conditions if the asset approaches this level. Recommendation Continue to HOLD the current long position, with a potential BUY opportunity if prices drop near the stop-loss level without breaching it. Monitor market trends closely and adjust risk management parameters as necessary to account for any changes in sentiment or volatility.
by titankarma
Anticipating a Correction to $75,000 Preceding a Rise to $150,00 As a seasoned observer of the cryptocurrency markets, I have developed a perspective on Bitcoin's (BTC/USDT) price action that blends technical analysis with historical observation. While the recent upward momentum has generated considerable optimism, a rigorous assessment of market indicators and past patterns suggests a high probability of a significant short-term correction, potentially bringing the price down to $75,000, before a subsequent ascent towards $150,000. This analysis will explore the evidentiary basis for this scenario, leveraging specific examples and technical indicators. Historical precedents serve as a critical foundation for this bearish short-term outlook. Bitcoin has consistently exhibited a cyclical behavior characterized by substantial price corrections following periods of rapid appreciation. A noteworthy example is the 2017 bull market, during which multiple 30-40% drawdowns were observed before the final surge to the all-time high. These corrections were not random market fluctuations but rather periods of market consolidation, during which excessive leverage was purged, and a more stable foundation for future growth was established. The current market conditions, while distinct in certain aspects, bear a notable resemblance to those preceding previous pullbacks, indicating a potential vulnerability to a similar pattern of price correction. Further supporting the likelihood of a correction is the emergence of bearish divergences across shorter timeframes. On the 1-hour (1H) and 4-hour (4H) charts, the price has moved below the 20-period Simple Moving Average (SMA), a key trend-following indicator, signaling a potential shift towards bearish momentum. Simultaneously, the Relative Strength Index (RSI), a measure of price momentum, has dropped below the 50 level on the same timeframes, suggesting that the selling pressure has intensified. Moreover, the Moving Average Convergence Divergence (MACD) indicators on these timeframes have exhibited bearish crossovers, with histograms declining into negative territory, confirming a decline in bullish momentum. Such conditions strongly suggest that an imminent retracement of the price is more likely than the continuation of the current uptrend. The longer-term outlook, while still bullish, does not negate the short-term correction. On the daily timeframe, the price remains above the 20-period SMA. However, the RSI has also started to move downwards and the MACD is showing signs of decreased bullish strength, suggesting that the upward momentum is potentially waning. Historically, such early indications of weakening momentum on the daily chart have often been followed by more substantial pullbacks. These pullbacks serve as essential market resets, creating a more sustainable base for subsequent rallies. The specific target of $75,000 is not arbitrary but rather a confluence of technical and psychological factors. This level is below recent levels of support, representing a potential “shakeout zone” where overleveraged or inexperienced market participants may be forced to liquidate their positions. A move to this level before reversal is also a common pattern in Bitcoin price action. The psychological level of $75,000 could also attract buyers looking for an entry point, which is a factor that would encourage a reversal to the upside from this price level. Looking ahead, the path to $150,000 remains clear, with significant macroeconomic factors and technical trends still supporting long term growth. However, the route to this price point is not likely to be linear and smooth; a move down to the $75,000 price level is likely and expected. The pull back, while unsettling, is likely to provide the next major catalyst needed for Bitcoin’s move towards the $150,000 target and beyond.
Short
by Abdihalim1
Bitcoin Overall: Not a time for Panic!As you can see from the monthly candles, it is commonplace for the middle of a move up to have a monthly 'doji' type candle as we will probably have here this month. I think the probabilities are BTC closes the month similar to the other times in history, and then in January begins a nice monthly candle will be seen, just like before. There is a warning though--we are approaching the end of the bull market. According to Elliott Wave Theory there are only move waves in an impulse move like we are currently experiencing, and we are on wave 5/5!
BITFINEX:BTCUSD
by Ian_Carsen
Apt/UsdtBINANCE:APTUSDT **Aptos (APT) Current Price: $10.62 💰** - The current price of **Aptos (APT)** is at **$10.62**, which is a key **support level** for the price. This means that if the price holds around this level 📊, it could potentially prevent it from dropping further. Support levels act like a "floor" for the price, where demand (buyers) is strong enough to keep the price from falling. --- **If Price Holds at $10.62 🛑, Resistance Levels Ahead:** - **Resistance at $12 🚀**: The first major resistance level is around **$12**. This is a price point where there might be enough selling pressure (sellers) to slow down or stop the price from rising further. Think of it like a "ceiling" where the price could hit and struggle to break above. - **Resistance at $13 🌟**: If the price breaks through $12, the next resistance is at **$13**. This is another level where the price may face increased selling pressure, making it harder for the price to go higher. However, if it breaks this resistance, it could signal further bullish momentum (more upward movement). - **Resistance at $13.52 💥**: The final resistance level is around **$13.52**, which is likely the strongest point where the price could face significant resistance. If the price reaches this point and struggles to break through, it could signify a potential reversal or consolidation in price. --- **Summary:** - **Support at $10.62** 🔻: If the price holds this level, it might bounce back up. - **Resistance Levels at $12, $13, $13.52** 🚀🌟💥: These are the points where price could face difficulty moving higher. If the price breaks through these, it could continue to rise. --- **Not Financial Advice!** 🚨 Always remember to do your own research, as market prices can be volatile! 📈📉
by Wolftrader1337