After analyzing the AVAX with both USDT and BTC, the best opportunity comes the
AVAXBTC
. Situation is very clear and precise, but still need to be traded with greater caution and risk management. IN the higher Time Frame (D1), we saw that there was a beautiful retrace on the 61.8% which is referred by some experts as the Golden Ration. So from that we highly expert a to the upside. Coming to H4, where we are going to take our entry, we saw that was a break of structure before which there was an Ignored Accumulation (IA is a more advanced concept in the market structure.). And after an IA, we expect the market to normally come back for a retest on a decision point which is a high level of liquidity near the IA. The most important thing is that the zone or the area is found in between the levels 61.8% and 78.6% of the FIbs where there is the trend-line. All this confluence shows us how strong that area is. So in a sense we can put our pending orders there with a very calculated risk management.
If price comes to that area and we fond some rejection to the upside or a bullish pattern, then we can buy and target a 40 - 50% of profit on the trade.
N.B: This is not a financial advice. Trade the market structure and not the trend, and moreover, make sure to have a good risk and money management.
AVAXBTC
. Situation is very clear and precise, but still need to be traded with greater caution and risk management. IN the higher Time Frame (D1), we saw that there was a beautiful retrace on the 61.8% which is referred by some experts as the Golden Ration. So from that we highly expert a to the upside. Coming to H4, where we are going to take our entry, we saw that was a break of structure before which there was an Ignored Accumulation (IA is a more advanced concept in the market structure.). And after an IA, we expect the market to normally come back for a retest on a decision point which is a high level of liquidity near the IA. The most important thing is that the zone or the area is found in between the levels 61.8% and 78.6% of the FIbs where there is the trend-line. All this confluence shows us how strong that area is. So in a sense we can put our pending orders there with a very calculated risk management. If price comes to that area and we fond some rejection to the upside or a bullish pattern, then we can buy and target a 40 - 50% of profit on the trade.
N.B: This is not a financial advice. Trade the market structure and not the trend, and moreover, make sure to have a good risk and money management.