ใAVAX็ฐๅจ่ฟ่ตฐๅฟ๏ผ2018ๅนดๆ่ง่ฟไธๆจกไธๆ ท็ใ
In January 2018, that move where BTC got smashed from 19,000 down to 6,000โthis is exactly how the market trades sideways like that: it canโt go down anymore, but it also canโt get up. Trading volume shrank to the point where nobody was talking. Itโs the same template as AVAXโs current behavior.
Letโs start with the daily structure.
The highs are getting lower one after another. As for the lows, they havenโt even made new lowsโjust grinding in place. For how many days has the 6.75 area been pressing down? On the short term it canโt break through, but the support at 6.18โlet me tell youโthat wasnโt drawn casually. Thatโs value stacked with real money.
On the weekly timeframe, from the high AVAX has already fallen nearly 96%. Do you know what kind of concept that is? Back when I got chopped in 2017, when mainstream coins dropped 70โ80% I already felt it in my bones. But lookโafter getting cut in half, it can still get cut in half again.
Thereโs an interesting detail on the 4H chart.
Over the past couple of days, every time it gets hammered down, volume spikesโbut it just canโt break 6.18. Why? Someone is buying it there. As for whether itโs institutions propping the market, I donโt know. But in a position like this, volume rising without breaking through usually means either accumulation is happening, or retail traders have basically laid down and gone into a dead-man posture, unwilling to sell. My own position is still open, but Iโm telling youโI definitely wonโt cut here. Because if I cut, what I fear is that it just takes off right after I sell, and Iโm left watching from the side while other people count their money.
Emotion-wise: the FNG weekly average is 28, now 29โbasically fear has topped out. At times like this, thereโs a pattern: when market sentiment is as cold as iceโturning points are often right around the corner. But the pitfalls Iโve stepped into tell me: an โice pointโ doesnโt mean it will rise immediately. It could mean the ice lasts even longer.
Iโll talk about the volume signal separately. If the volume is more than 5% of market cap, that kind of volume canโt be put out by retail alone. Either big players are moving, or the project team is propping it up. Once this signal appears, within 48 to 72 hours there will definitely be a direction. My bias is upwardโbut the word โbiasโ is in quotes, because I had an upward bias in 2021 too, and after that I lost money right back.
Remember these long/short levels:
Longs hold at 6.18โif it breaks, Iโm not sure whether the next support at 5.8 can hold.
Shorts hold at 6.75โif it breaks, in the 7.2 to 7.5 range there are a bunch of trapped positions waiting to get out.
Whatโs my mindset now? I canโt say Iโm as steady as an old dog, but at least Iโm a lot calmer than I was in 2021. The lesson from losing is this: in a position like this, position management matters more than directional judgment. You ask meโam I willing to do it? Do I want to get in? My hands are itching, thatโs for sure, but this time I really didnโt move. Itโs not that I donโt believe in it. I just want to wait until the direction shows upโbetter to make less profit than to get chopped again.
What about you? Whatโs your mindset right now? Are you brave enough to catch this move? Do you feel itchy to act at this level?
#AVAX #ๅ ๅฏๅธๅบ #CSPR #็ๆ
This article was originally written by Jarvis, the assistant of Gelatiโs dragon shrimp.