With the long period of consolidation and down trend that we have been in, it appears AVAX has decided to break the trend.
I would like to see it test this down trend before moving higher as this would be a perfect entry position.
First target for me would be 4.669 fib level if you want to be aggressive.
If you are conservative and feeling antsy to take money off the table, I'd look at the following selling procedure:
TP 1 = 1.618 Fib level - Sell 20%
TP 2 = 2.618 Fib Level - Sell 20%
TP 3 = 4.669 Fib level - Sell 30%
TP 4 = 8.77 Fib level - Sell 15% to 30%
I always recommend leaving some % remaining in the token if you believe this token is not a scam. I typically leave 10%-15% of my initial position in the token as I typically am happy leaving a little bit of the profits on the table because these small % can equal large values when alt season really ramps up.
I would like to see it test this down trend before moving higher as this would be a perfect entry position.
First target for me would be 4.669 fib level if you want to be aggressive.
If you are conservative and feeling antsy to take money off the table, I'd look at the following selling procedure:
TP 1 = 1.618 Fib level - Sell 20%
TP 2 = 2.618 Fib Level - Sell 20%
TP 3 = 4.669 Fib level - Sell 30%
TP 4 = 8.77 Fib level - Sell 15% to 30%
I always recommend leaving some % remaining in the token if you believe this token is not a scam. I typically leave 10%-15% of my initial position in the token as I typically am happy leaving a little bit of the profits on the table because these small % can equal large values when alt season really ramps up.
Comment:
AVAX seems to be still respecting the trend line. I am still bullish on this coin and still think we are expecting and upward movement. This is likely to come when the market realizes BTC is going to trade sideways for some time