looks to be breaking above the 2x long pressure level, which would be super bullish.
next stop would be $156.
of course, if bitcoin and the rest of the market take another dip, AVAX would likely retrace a bit too but i would expect it to stay in the $85-$100 range. that scenario would provide buying opportunities.
next stop would be $156.
of course, if bitcoin and the rest of the market take another dip, AVAX would likely retrace a bit too but i would expect it to stay in the $85-$100 range. that scenario would provide buying opportunities.
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if you're looking for a breakout entry, i would wait for a retest of $102 and buy if there's a convincing bounce. there's a lot of resistance at this level so you don't want to get caught buying the top.
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seeing resistance at the 2x long level from $72. $78 looks like a stronger support level than $72, so i still think the $156 target is on the way...
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cheat sheet
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revised targets based on local low @ $100
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tapping that trendline again. i have my stop trailing a few percent below the trendline. alternatively you could keep your stop just below the $100 support.
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...annnd that's why we use stop-losses! hope everyone got a good reentry.
couple things to note:
(1) support at $77 basically confirms the target of $150-$155, assuming the market doesn't continue to tumble.
(2) price fell through the logarithmic trendline and is currently retesting it, but we saw a perfect bounce off the trendline on a linear scale:
couple things to note:
(1) support at $77 basically confirms the target of $150-$155, assuming the market doesn't continue to tumble.
(2) price fell through the logarithmic trendline and is currently retesting it, but we saw a perfect bounce off the trendline on a linear scale:
