AVAX double top flip chart short & macro cycle market analysisAvalanche / US DollarCOINBASE:AVAXUSDEcchiTradesAVAX along with most other coins is seeing a big correction downward. It’s broken the neckline on a double top and the measured move is 7.41. The macd was trending down while price was heading up indicating a divergence on the indicator. Analysts have noted btcs rise to 82k was a mid cycle correction and is potentially going to bottom out at 45k. With on chain metrics off all coins showing large downside corrections that possibility is starting to seem like it’s more likely than not with the markets big downside corrections. As most traders know all other coins generally follow bitcoin’s price action until it has stabilized in price than profits from btcs run up get refunneled into altcoins. This time in the market cycle is called Altseason, and has seen 400x pumps in alts in prior seasons. One analyst noted on yesterday on Btc pizza day that the pump was reminiscent of alt season but I believe it was more of a mini alt season following mid cycle correction to 82k and the bigger run is coming after Btc bottoms at 45k and restabilizes after hitting new higher highs. The BEAR cycle is back with a vengeance so better to put your bear suit on than trying to run with the bulls at least until that time comes. Anyways happy trades everyone!