🚨 #AVAXUSDT : Bearish Breakdown Likely -
Key Evidence from Your Charts:
1. Momentum & Oscillators:
- STOCHRSI (38.57) < MASTOCHRSI (19.52): Bearish crossover confirmed.
- MACD histogram (-0.126): Negative momentum accelerating.
- Williams %R (-68.96): Nearing oversold but no reversal signal yet.
2. Sentiment & Positioning:
- Extreme long dominance: 79.84% accounts long (L.S. Acco. 3.96) → Contrarian bearish signal* (crowded trade).
- Open Interest (206K) + Negative OBV (-8.4M): Smart money distributing.
3. Price Structure:
- Trading BELOW Bollinger Middle Band (21.93) → Downtrend confirmed.
- 24h Low (19.76) likely to retest as support weakens.
4. Funding Rate:
- Negative basis (-0.02) & funding rate (-0.10%): Bearish perpetual bias.
Trade Strategy:
- Entry: 20.90 (current zone)
- Target: 19.76 (24h low) → *5.5% downside*.
- Stop Loss: Above Bollinger Middle Band (21.93).
> ⚠️ Critical Watch: A close *above* 21.93 invalidates bearish thesis.
TL;DR: Short AVAXUSDC targeting 19.76. Stop loss 21.93. Bearish catalysts outweigh bounce potential.
