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$AVAX Currently around 9.280 USDT.
Do you think we should keep grinding higher here, or is it about time to pull back?
If I had to give a conclusion, I’d lean more towards: it looks like a high-level divergence, not suitable for continuing to chase longs.
Here’s my main reasoning:
First, the order book shows some signs of slowing momentum, chasing aggressively isn’t worth it.
Second, the continuation after a spike is average, chasing longs risks entering an awkward position.
To add one more point, BTC isn’t strong; only altcoins have room for a waterfall. If BTC shows a strong trend on the 15-minute/1-hour chart, I’d give up on shorting directly.
Suggested entry price: 9.354 USDT
Watch this target: 8.797 USDT
The point where you should exit if wrong: 9.577 USDT
But the biggest risk at this level is that the resistance gets broken through with high volume.
If you were trading this, would you first go long, watch a bit longer, or just stay away altogether?