AVAX/USDT
Updated
Proceed with caution when shorting crypto.
The MACD suggests weak buy volume on the 1hr TF and is facing a potential cross. We will be mindful of the HTF as we are on an uptrend, and volume can flood in.
The BB is expanding. Note that every time the BB expands too much, we touch the Middle or Lower Band. We also have a channel that suggests we may retest the bottom of this range.
Rsi is falling towards the bearish territory. Note that this sell pressure may not last.
Best wishes,
HONEYITSGONE!
The MACD suggests weak buy volume on the 1hr TF and is facing a potential cross. We will be mindful of the HTF as we are on an uptrend, and volume can flood in.
The BB is expanding. Note that every time the BB expands too much, we touch the Middle or Lower Band. We also have a channel that suggests we may retest the bottom of this range.
Rsi is falling towards the bearish territory. Note that this sell pressure may not last.
Best wishes,
HONEYITSGONE!
Comment
Take a look at this updated chart.
We had an opportunity to take profits well below $51 and set our S/L for profit. We see a relief bounce here and an attempt to break out of this consolidation phase. I will be building a short position @ near $54 again until proven otherwise. we have tested the lower trendline several times during this consolidation phase which can be bearish. Set a stop that best suits your scenario.
Good luck, Best wishes, follow me, and you won't have to say.
HONEYITSGONE!
Comment
Consider taking, profit and lowering your stop for a profit. Do not be greedy! I see a potential relief bounce soon. I am closing 70% of this position and lowering my stop for for profit. I will consider building a short position later on. I will keep this idea Open as it is still valid. If we get stopped we are in a heavy profit and will look for another opportunity.Comment
That relief bounce though.Comment
Short lived relief bounce, I did not add to my short position as the risk/reward did not make any sense. Still holding 30% until target or range lows. Lower S/L for profit.Comment
Straight to Valhalla. 25% of this short position closed @$42.50. Currently holding 5% with a S/L for-profit @ $52.05. We are holding this position until Stopped or $37.50. Thanks for playing, guys. Now think of this when playing leverage. If you have been following me and our updates, you are up BIGLY the past two weeks Congratulations. LFG
Best of luck, bullas,
HONEYITSGONE!
P.S funds are SAFU honey.
Trade closed: target reached
Honey, we are having cornbread tonight. We are up BIGLY.
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