Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
Link to previous chart:
The 5th wave of the minor wave (3) cycle hit sooner than expected and we've reached the bottom of the wave (4) retracement. We should be working on the last impulse wave (5) of the bigger cycle as shown. The price of wave 4 has entered price territory of wave (1), which normally doesn't happen too often, but when it does, it's a good indication that the bottom is in or near, unless its a dead shitcoin. I don't think avax is dead as there are a lot of good development from the team.
Link to previous chart:
The 5th wave of the minor wave (3) cycle hit sooner than expected and we've reached the bottom of the wave (4) retracement. We should be working on the last impulse wave (5) of the bigger cycle as shown. The price of wave 4 has entered price territory of wave (1), which normally doesn't happen too often, but when it does, it's a good indication that the bottom is in or near, unless its a dead shitcoin. I don't think avax is dead as there are a lot of good development from the team.
Trade active:
Minor wave cycle for the last fifth wave (5) impulse. We don't get many waves like these unless it's a real altcoin season. The 5th wave is as long as the 3rd wave if not, then longer. Let's see if this one plays out similarly.
Trade active:
Chart on the 4h. The top will be roughly around the area of 250-300
Trade active:
Zoomed in: The left white circle is what happened the last time these EMA's curled up. If we get a similar repeat on the right circle then we can see something similar.