Support with like!❤️
📌 Counter-trendline AVAX
🔹Analytics: AVAX fell by -55%, the asset was bought back by only $ 25, it has already tested it and is going to go to the counter-trend line, if the price breaks it, this will be a good signal for an upward movement.
I do not give exact points for entry-exit. Resistance lines - possible sell / correction,...
The price is testing the last 4h support. If the price will have a breakout downward, According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Since we did already fell rightt into the golden pocket, going even lower would create an even more insane buying opportunity for Avax. A third and probably final touchpoint of the channel support would bring us all the way to a 78.6 % retracement, measured from the very beginning of the avax bullrun. 17.5 and 15 usdt would mean a (very) long term holding...
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$)
TP2: FIB 2.618 (140.44$)
. There is a possibility of temporary retracement to suggested support line (36.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AVAXUSDT is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
AVAX has recently seen a strong decline in value after a shattering bullish run in January.
After a period of correction and consolidation, AVAX is slowly but surely producing higher lows whilst bouncing off the lower support. Since a lot of crypto's are seeing bullish pressure at this moment, I suspect we'll see more coming to AVAX in the near future.
AVAX could likely repeat the same pattern that formed Feb 2021, a renounced from 32 to 27, before the break of the 32 resistance to 60
The same pattern could form again,a breakout of the resistance at 31.5, a retest at 27.5, the a bounce to 60
Possible tp- 35, 42, 47, 52, 60
Stop loss- 24