Avalanche (AVAX) to $380

Price action has corrected 80% since the sell signal last November as is shown on the above 2-day chart. A number of reasons now exist to be long, including:

1) The ‘incredible buy’ signal.

2) Both price action and RSI resistance have broken out (1-day chart below)

3) Regular bullish divergence (1-day chart below).

4) Both points 2 and 3 are also true for the BTC pair (below).

5) The target is a measured Fibonacci move to the 1.618 as it was with the last cycle.

Is it possible price action falls further? Sure.

Is it probable? No.

Good luck!

Ww

Type: trade
Risk: <6% of portfolio
Duration: 1 - 3 months
Return: 15x


1-day chart

1-day BTC pair

Trade active:

See the breakout?

Comment:

Trade active:

This would be an excellent moment

Trade active:

Multiple divergencies on the 2-day chart as price action forms a double bottom on the 0.236 Fibonacci level.

This is a gift horse from the emotional market participants, don't let it pass you by.

Comment:

Did you see?

Trade active:

The highest number of diverging oscillators confirm bullish divergence on the 2-day chart below.

The target remains very probable. The when? Don't know. However, certainly take profits at the time of the FED pivot.

Comment:

Lot and lots of positive divergence

Trade active:

Very little has changed about this idea expect for the time to target. Timing the markets is nothing compared to time in the market.

Now if you're still in this market then the news is good, the target valid. From the last cycle breakout price action took 4-5 months to reach the channel top / Fib extension.

On the weekly chart below not only has price action broken out but has printed a dragonfly DOJI candle.

Be patient and ignore the doubters.

Ww

Weekly chart

Comment:

A move to 27 dollars is very probable in the near future.

Trade active:

Once that 21 dollar resistance is broken the the above update to 27 should print.

Lower resistance at 14 dollars has now confirmed as support.

Comment:

On support. Absolutely nothing has changed on this idea overall, the target remains valid as the day this idea was posted. Market structure intact. Even though price action is down 50% it is no great shakes given the target.

Now if a 50% correction is way too much to stomach, then get out of Crypto. You don't make big gains without a bloody nose from time to time. Did you allocate more than 6% of tradable portfolio to the trade? Many times messages are received over the months with 90% and more allocation, I jest you not.

Be patient, take opportunities when they arise.


5-day

Trade closed manually:

Meant to update this idea but will not unless asked. Gotta to remember I do not have positions in 90% of the ideas published. Why? Because the strategy I use does not allow me to hold more than 4 or 5 positions.


Broken market structure on 12-day USD chart

Same on BTC pair

Comment:

Overbought. Expect 21 to be strong resistance.

Comment:

A long from $12 is good..

Comment:

Am asked why the last update "price never goes back to $12 dude"

Show me the chart and I'll tell you the news...

Daily chart

Comment:

A 50% correction should be expected in the coming weeks.

weekly

Order cancelled:

Horrible bearish divergence printing as price action confirms resistance on past broken market structure.

6 day