Avalancheusdt
Avalanche (AVAXUSDT/AVAXBTC) Long&Short Trade Setups 2021/03/05Long Trade Setup #1: False Breakdown
1. Price Action: Price breaks below the then rapidly climbs above 0.00050000, forming a bear trap
2. Trade Entry Confirmations: A breakdown candlestick followed by a reclaiming candlestick, above average volume on both breakdown candle and reclaiming candle, MACD bottoming
Short Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ 0.00055500 by the time price reaches it, and bounce back down.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!
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How are chances to see a third wave and where could it lead to?2 minutes ago
I checked the FIB-extensions of Wave 1 and checked which of those got reached with wave 2.
Now I thought to develop a theory - and that´s everything it is - non-fundamental, so take it as an idea which is not very likely to happen, please.
But if there will be a third wave this could lead us to:
TP1: FIB 1.272 (73.7$)
TP2: FIB 2.618 (140.44$)
Trade on your own risk, so do I.