AVAX/BTC has remained in a 3.5‑year descending channel since December 2021.
A brief rebound occurred Oct–Dec 2023 but faced resistance at the channel top and 0.618 Fib.
Currently at the channel bottom, bearish sentiment suggests an “Exit Pump” may be brewing.
Since December 2021, the AVAX/BTC rebound chart has been trapped in a steady descending channel. That means every rally has met resistance well below previous highs, signaling persistent downtrend pressure. For traders, this is a clear illustration of repeated failures to break higher over nearly four years.
Flash of Hope in Late 2023
Between October and December 2023, AVAX/BTC surged from the bottom of the channel toward its top—a clear rally that sparked excitement across the market. However, the up move was halted forcefully when it hit the channel’s upper boundary and the 0.618 Fib retracement level, turning it into a classic “Exit Pump.” That rejection knocked momentum out of the rally, and the pair reversed sharply.
Sitting at the Channel Bottom Again
Fast forward to June 2025: AVAX/BTC is once more resting at the bottom of the channel. Sentiment appears grim. Altcoin charts are under pressure, and Bitcoin dominance sits at cycle highs. Technically, when the broader market tone is bearish and assets are oversold at a key support zone, it often sets the stage for a short‑term relief rally. This aligns well with the historical pattern of repeated rebounds within the channel.
$AVAX/BTC 1W chart
We’ve been stuck in this Descending Channel since December 2021
3.5 years of ‘Down Only’ against #Bitcoin
One time (Oct-Dec 2023) we had a pretty significant rebound from the Bottom of the channel to its Top. That was an Exit Pump as we got rejected by… https://t.co/M19CCxOq6T pic.twitter.com/aUvKIJ3fR0
— CryptoBullet (@CryptoBullet1) June 29, 2025
Why Another “Exit Pump” Could Follow
Support at Bottom of Channel – This area has consistently held since 2021, offering a strong technical base.
Oversold Conditions – Bearish sentiment can trigger capitulation, often followed by short but sharp counter moves.
Chart Patterns – The repeated behavior within the channel suggests these rebound plays are baked into trader psychology.
While nothing is guaranteed, the setup mirrors the Oct–Dec 2023 bounce. If history repeats, the next few months could bring another move toward the channel top—potentially even more dramatic since the trough is deeper this time.
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