AVAAI Carrying It's Weight

I'm making a new publish for AVAAI; I am having difficulties adding notes to my recent publish.

AVAAI has held up well in the GW support structure so far.

This pennant could be a cause building event for some price action to the upside.

No Guarantees; Written or Implied

-Not Financial Advice-

Note

IMPORTANT NOTE: After further research into other assets I am confident enough to say that further correction may continue in the market.

With that noted; I want to touch on important details regarding AVAAI.

It has held here in the GW support structure so far, but is struggling to break above the 0.618 ($0.03934). My original TA suggested that a wave up from the support structure could be in the works, and this still could be the case.

But I've noticed it's printing another pennant outside of the pennant its just broken out of. So it's looking a bit exotic here and honestly has me a bit uncertain.

But overall; this could in fact turn into a "SPRING" in terms of Wyckoff. According to Wyckoff schematics, the SPRING has the potential to dive deeper than the ST zone.

So this could be an outcome considering that further correction could be in the playbook for crypto assets.

With that note: Be careful with this asset as we potentially continue this correctional phase.

Note

The pennant transformed into a shallow descending channel. That 0.5 target is on, and possible something slightly higher according to the HVN.

Note

After looking at USDT.D and the H&S pattern; threatening to make a drop. This suggests short-term bullishness throughout the market.

If this is the case, AVAAI could experience bullish activity. AVAAI is printing what may be an inverted H&S pattern; possibly printing the right shoulder.

If this pattern takes affect, I have an ideal resistance zone marked.

-NOT Financial Advice-

Note

This right shoulder formation is looking weak, and price is still struggling to gain momentum past resistance at the top of the broadening wedge.

A breakout above the wedge top with increased volume could lead to a run toward the supply line.

As USDT.D is potentially showing signs of further bullishness, this breakout above the wedge may not be an outcome. And considering the drop in volume, this resistance structure could hold, leading to retracement.

The GW retracement is a key support level. If price fails to break upward, it could retest this level before another attempt. The demand line below acts as additional support.

4 hours ago

Note

Here comes the creek... threatening to print a lower low.

TheGemHunter

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TheGemHunter