Technical analysis by sirkamal about Symbol AVAX: Buy recommendation (1/29/2025)

Current Market Analysis & StrategyThe price has broken down to a key support level, but there are mixed signals across timeframes. Here’s my interpretation: Daily Chart Perspective: The pair appears to have bounced off the support line, suggesting potential bullish rejection (i.e., buyers are defending this level). This could indicate a fake breakout if the price stabilizes or reverses upward. 4-Hour Chart Observation: The breakdown looks unconvincing ("fake") due to weak momentum or lack of follow-through. This shorter timeframe contradicts the daily chart’s bullish bounce, creating ambiguity.Confirmation StrategyTo avoid acting on false signals, we need price confirmation: 1. Wait for the candle to close above the support level on the 4-hour chart. 2. A confirmed close above support would strengthen the case for a fake breakout and signal potential upside. If the price closes below support, the bearish breakdown is likely valid, and further downside could follow.What do you think of this, my friends??