AVAX EW COUNT
momentum looks weak to me, hasn't made impressive move up (compared to many other alt charts). Technical target according to my count should hit $30.00 - $38.00 area as wave 4 retracement, looking at the current move as a minor degree ABC to start a larger degree ABC. The (B) in question relates to current structure and market condition, it could end lower near the lows (as long it remains above the current low), we can count it as the ABC. The other outlook favoring bullish thesis is the move up from (B) is just wave (i). It will all depend on how the markets play out to end April going into May.
We are favoring the bearish sentiment, looking at BTC as possible move up completed but also considering 1 more leg higher left to complete is still possible.
For the moment theres no entry or trade setup. If you bought AVAX at the lows, hopefully you secured some profits by now.
Will update the counts as candles print.
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Thank you & Safe Trading,
Cheers
momentum looks weak to me, hasn't made impressive move up (compared to many other alt charts). Technical target according to my count should hit $30.00 - $38.00 area as wave 4 retracement, looking at the current move as a minor degree ABC to start a larger degree ABC. The (B) in question relates to current structure and market condition, it could end lower near the lows (as long it remains above the current low), we can count it as the ABC. The other outlook favoring bullish thesis is the move up from (B) is just wave (i). It will all depend on how the markets play out to end April going into May.
We are favoring the bearish sentiment, looking at BTC as possible move up completed but also considering 1 more leg higher left to complete is still possible.
For the moment theres no entry or trade setup. If you bought AVAX at the lows, hopefully you secured some profits by now.
Will update the counts as candles print.
Feel free to share and comment, if you find it helpful please click like to show support.
Thank you & Safe Trading,
Cheers
Comment:
AVAX wave 4 target $41-$61
Comment:
potential counts on current move up:
if it rips past $25:
Comment:
AVAX wave 4 target $41-$61