AVAX is following the Elliott Wave Impulse schematic.
Wave 1 has given us a 5 wave impulse. Wave 2 is showing us a 3 wave ABC correction - We are currently on Wave C of the correction Wave 3 is the next wave we are expecting, which is often the biggest wave.
Wave 2 - ABC A wave = 3 waves B wave = 3 waves C wave = Seeing a 5 wave move down (which follows the impulse schematic)
We are currently on the 5th wave of wave C. This 5th wave has 5 subwaves of which we are on the 4th subwave and expecting one more subwave lower before the big bullrun.
The bullish target can reach well above 200. Well above 3000% gains to be made.
Will update this chart once we see the last move lower!
after seeing your idea i went and did my magic check it please >
djcreek
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Avax doesn't trade in isolation. The macro environment doesn't support any longs. BTC is bearish. Nasdaq and Sp500 are bearish. DXY is bullish. Govt treasuries are bearish. 10yr bonds, bullish.
Avax isn't going anywhere but down until the market leaders show otherwise.