Brief Analysis——AVAX(Recap)
A few days have passed and AVAX has started a continuous decline as we said before, which has covered most of the gains at the beginning of the month. The attack on FT's copycat Stars Arena is temporarily over. The project team stated in the latest announcement that 90% of the stolen funds have been recovered, but the protocol has not been restored now, and the funds have been withdrawn from Avalanche.
After the upward pin-bar appeared, AVAX turned downward and the trading volume gradually decreased. From the WTA indicator, at the daily level, the blue column representing the whale disappears, a V-reversal is formed, and the whale has taken profit. From the ME indicator, AVAX is always below the orange wavy area, which means that AVAX is in a bearish trend.
Next, let’s see if AVAX has improved at the small level.
Switch to level 4h. Bulls have seen little reinforcement during the decline, with the slope of the decline as steep as the previous rise. There is no difference between the situation reflected on the WTA indicator and the daily level. After the long upper pin-bar appears, shrimps representing retail investors fill the entire pond. The whale disappeared. The candlestick is below the purple wave area, and the ME indicates that the bullish trend is about to be reversed.
For AVAX, the decline may not be over yet for AVAX.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After the upward pin-bar appeared, AVAX turned downward and the trading volume gradually decreased. From the WTA indicator, at the daily level, the blue column representing the whale disappears, a V-reversal is formed, and the whale has taken profit. From the ME indicator, AVAX is always below the orange wavy area, which means that AVAX is in a bearish trend.
Next, let’s see if AVAX has improved at the small level.
Switch to level 4h. Bulls have seen little reinforcement during the decline, with the slope of the decline as steep as the previous rise. There is no difference between the situation reflected on the WTA indicator and the daily level. After the long upper pin-bar appears, shrimps representing retail investors fill the entire pond. The whale disappeared. The candlestick is below the purple wave area, and the ME indicates that the bullish trend is about to be reversed.
For AVAX, the decline may not be over yet for AVAX.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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