Hi all,
Potential falling wedge formation on daily for the AVAXUSDT pair on Binance.
I will be looking for a breakout confirmation above the horizontal resistance to open longs, around $38.5 probably. The falling wedge can result in a solid upside reversal with first target around the previous ATH and the second at $86 or 150 percent from the current price level.
I would close 70% of the position above the first target and leave the rest to fly towards Target 2.
Just wait for the market to settle and don't chase or buy tops
Regards
Potential falling wedge formation on daily for the AVAXUSDT pair on Binance.
I will be looking for a breakout confirmation above the horizontal resistance to open longs, around $38.5 probably. The falling wedge can result in a solid upside reversal with first target around the previous ATH and the second at $86 or 150 percent from the current price level.
I would close 70% of the position above the first target and leave the rest to fly towards Target 2.
Just wait for the market to settle and don't chase or buy tops
Regards
Note
We are on the move. LONG position openedNote
AVAX is really struggling to continue with the upward movement, but at least it is stable above the horizontal resistance, so I hope it turns to support
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.