Long
AVAXBTC Rising Channel| .618 Fibonacci| POC| Volume
Evening Traders,
Today’s analysis – AVAXBTC- trading in a rising channel where a rotation to the lows of a technical confluence location is probable,
Points to consider,
- Price Action impulsive
- .618 Fibonacci Support
- Bullish OB Confluence
- Low Volume
- RSI overextended
AVAXBTC’s immediate price action is impulsive and is trading towards a technical trade location that has confluence with the .618 Fibonacci and a Bullish OB, allowing for a long entry.
The immediate objective is the Weekly S/R, exceeding this level will lead to a trend continuation.
The current volume profile is below average, an influx is needed for a strong expansion, this will also directly influence the RSI.
Overall, in my opinion, AVAXBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you.
Today’s analysis – AVAXBTC- trading in a rising channel where a rotation to the lows of a technical confluence location is probable,
Points to consider,
- Price Action impulsive
- .618 Fibonacci Support
- Bullish OB Confluence
- Low Volume
- RSI overextended
AVAXBTC’s immediate price action is impulsive and is trading towards a technical trade location that has confluence with the .618 Fibonacci and a Bullish OB, allowing for a long entry.
The immediate objective is the Weekly S/R, exceeding this level will lead to a trend continuation.
The current volume profile is below average, an influx is needed for a strong expansion, this will also directly influence the RSI.
Overall, in my opinion, AVAXBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you.
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Follow me on Twitter! twitter.com/pinkdawn__
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