AVAXUSDT
Hi everyone! This is JJ CHEN. Before we start to discuss, let's review what happened to AVAX recently.
Just as I said on Dec. 30th,2021, AVAX started its bullish trend .
AVAX has risen over 10% since the LONG signal appeared.
(You can check what I said that day in the link to related Ideas.)
We can see that AVAX is now testing the supply area.
If it's rejected, AVAX might open up the possibility of retracing back to 100 or the Fibonacci Retracement of 0.618, 0.5 ,0.382 position.
If it succeeds in breaking through the supply area, AVAX might keep challenging the next supply area (around $130).
In Triple-in-One indicator, LS_AUX and LS_main are close to the overbought area, which will lead to high probability to make AVAX go down.
Also, in 1HR time frame,
(1) Top Divergence in OBV
(2) overbought in both LS_Main and LS_AUX
I've closed my LONG trade, and wait for any confirmation above the supply area($120) support or any retest of the Fibonacci Retracement of 0.618, 0.5 ,0.382 position.
Trust me, there are always good points to entry AVAX.
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