Although Avalanche may not be alone here and ill be making note to bring some other alts to light this week that I think have a big gap to fill before we see any strong accumulation. 3160 sats is a weekly support level spanning back as long as mid 2021 as the previous bull market started to get real exciting. If these levels cant hold we have a real lack of market structure to a low against BTC which could see ALTS really take a hard hit and loose a lot of SAT value.
This thesis lines up well with the potential of Bitcoin rolling into a short accumulation phase before potentially having another rally leading into the halvening around April 2024. Be careful in some of these ALTS as I feel the market could get brutal on some of these, even the big market cap boys aren’t immune to bitcoins reckoning
Although Avalanche may not be alone here and ill be making note to bring some other alts to light this week that I think have a big gap to fill before we see any strong accumulation. 3160 sats is a weekly support level spanning back as long as mid 2021 as the previous bull market started to get real exciting. If these levels cant hold we have a real lack of market structure to a low against BTC which could see ALTS really take a hard hit and loose a lot of SAT value.
This thesis lines up well with the potential of Bitcoin rolling into a short accumulation phase before potentially having another rally leading into the halvening around April 2024. Be careful in some of these ALTS as I feel the market could get brutal on some of these, even the big market cap boys aren’t immune to bitcoins reckoning