- An analyst shared on X that the AVAX/BTC trading pair could bounce off of a bottom on its 4-hour chart.
- In this bullish scenario, the pair could rise to the next major resistance level at 0.0003610 BTC.
- Both AVAX and BTC saw their prices increase over the past 24 hours of trading.
The cryptocurrency analyst and investor CryptoKaleo shared on X earlier today that the Avalanche (AVAX) and Bitcoin (BTC) trading pair could start making a move upwards soon. According to the post, the pair is starting to bounce off of a bottom on the 4-hour chart.
$AVAX / $BTC pair starting to bounce off the bottom as wellThis is where you giga long pic.twitter.com/IsL6xe5ECA
— K A L E O (@CryptoKaleo) October 26, 2023
The AVAX/BTC pair rebounded from a low of 0.0002982 BTC yesterday, resulting in a strong positive move in the following 24 hours. Subsequently, the pair currently seems to be in an attempt to challenge the 0.0003395 BTC barrier.
Daily chart for AVAX/BTC (Source: TradingView)
If AVAX/BTC is able to close a daily candle above 0.0003395 BTC, then it could establish a strong foundation before entering another leg up. In this bullish scenario, the pair could rise…
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