Let's have a look at the 4-hour timeframe to understand the medium-term picture of the price movement of an asset.
The targets for fixing profits on the AVAX movement in a current bearish trend are marked in red on the chart. At the moment, the coin is in the buy zone, so you can place Market Orders if you are confident in AVAX's growth. A confident break out of the downtrend, marked by the red line, can be considered as another buy signal.
The indicator readings, such as RSI, MACD, and the moving average, are worth focusing on when opening a position. Three following indicators can justify the opening of a long position at this time:
The coin might bounce off the aforementioned levels, so you can use the GRID bot by 3Commas to maximize profits. On your main profile page, go to the GRID bot section. Select the AVAX market and the AVAX/USDT pair. Under the bot settings, proceed to the Manual strategy. Here is a suggestion for the GRID bot parameters:
Click the "Create" button. You can monitor the bot's statistics in the "My Grid Bots" menu.
The targets for fixing profits on the AVAX movement in a current bearish trend are marked in red on the chart. At the moment, the coin is in the buy zone, so you can place Market Orders if you are confident in AVAX's growth. A confident break out of the downtrend, marked by the red line, can be considered as another buy signal.
The indicator readings, such as RSI, MACD, and the moving average, are worth focusing on when opening a position. Three following indicators can justify the opening of a long position at this time:
- RSI has entered the oversold zone, a temporary or permanent recover in price is likely;
- The MACD histogram looks bearish, but in case of a sharp breakout, the situation will quickly change;
- The price is currently below the MA; as soon as it crosses the line in an upwards movement, you can more confidently buy AVAX.
The coin might bounce off the aforementioned levels, so you can use the GRID bot by 3Commas to maximize profits. On your main profile page, go to the GRID bot section. Select the AVAX market and the AVAX/USDT pair. Under the bot settings, proceed to the Manual strategy. Here is a suggestion for the GRID bot parameters:
- Upper limit price: 4.40;
- Lower limit price: 2.80;
- Grid quantity: 10;
- Quantity per Grid: the amount in AVAX that the bot will buy/sell at each grid step. When you enter this value, the bot will display the required minimum amount of funds that must be available in your account.
Click the "Create" button. You can monitor the bot's statistics in the "My Grid Bots" menu.