I think avalanche will continue on its short momentum momentarily momentarily for a short correction at least and then we will check again but for now I believe the avalanche will need to correct based on what I am seeing in the price action.
You can see that we have resisted to pass the resistance multiple times on the 79 minute time frame and we are failing to break due to a large cell wall that's being maintained by large whale holders and arbitrage bots and arbitrage bots for now I would say that until we break the resistance it would be short and if it does break resistance we will reconsider and reevaluate.
You can see that we have resisted to pass the resistance multiple times on the 79 minute time frame and we are failing to break due to a large cell wall that's being maintained by large whale holders and arbitrage bots and arbitrage bots for now I would say that until we break the resistance it would be short and if it does break resistance we will reconsider and reevaluate.
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Target 16.50
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Price is still showing very bearish at the resistance despite some pump, perpetual futures have large sell order block at about 17.6 so I'm seeing a short here still:
www.tradinglite.com/x/2210qM54c3
www.tradinglite.com/x/2210qM54c3
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Still leaning bearish but closed this for now and hedged long with a spot short. Night.
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Reopened this @ 17.50 -> @ 17
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I still believe in this idea.
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Short closed, profits taken, spot in, longed from here.
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Small scalps here and there, but long plays are mostly just that (scalps). See my latest post to review the *macro* situation we are still in.