With the crypto space in a bear market right now, down is the direction of the trend.
SOLANA broke down from H&S pattern last January 5. The retest seems to have ended in January 13's action.
Let's see if it can break below it's horizontal support level.
Possible market leader when the dust settles.
$AVAXUSDT display relative strength
1. Managed to get back above key moving averages
2. 4th lower low was supported
3. High volume on up days vs down days
4. 9/15 good closes despite weak market
Time element is there. Currently 5 weeks into the base and already building the right side.
BTC set up for the next leg is very constructive because of the following reasons:
1. There are buyers (support) in the 21D EMA
2. There is price and volume contraction which started when it pulled back from 67k high
3. Looking at weekly chart, this is a 4-weeks tight - based on William O'Neil, this is a form of accumulation
November 6, 2021 looks like a reverse...
