AVAX TREND UNDER THREAT?AVAX 1D: Bearish flag brewing as illustrated between the white regression lines. Also note the declining volume against rising price as shown along the bottom of the chart. Strong price architecture is built on a solid volume foundation. That foundation looks to be waning.
A downside breach of the 24.17 level, which is (-2 ) standard deviations off the linear mean, would potentially put the recent upward trend under threat.
The RSI has touched the overbought level at the top end of its range on the 1 day time frame and begun trending downward. Trips over 70 on larger timeframes such as the 1 day chart are significant indications of a rally potentially coming to its end. Stay nimble out there.
AVAXUSD.P trade ideas
$avax target remains $28-30should have stuck with this game plan as avax bounce right at our w4 completion zone.
still targeting $28-30 minimum.
only area i'm concerned about is the ? white box. rejection there would signal another wave down and likely the end of this bull run.
until then, long your longs.
avax vs eth for additional context. think avax outperforms again:
AVAXUSD breakout, could this be the start of a new move higher?Hi, welcome to Monday's update. Today's focus is on AVAXUSD after last weekend's solid two days of buying that broke above resistance
Are we seeing a new higher extension on AVAXUSD? That is the question we're asking in today's video update. Weekend trade has set up the first sign with a break above 25.30 resistance. What we would like to see now is for the move to continue higher and test the next resistance levels seen at 27.50, 31 and 36.
In a perfect world, we would see price continue to push higher a bit more before we see a new pullback. We are looking for the pullback to find support at the previous breakout point and turn the previous resistance level into new support.
A new HL created around the previous level of resistance followed up by a new HH would be a good sign and could signal a buy into the new move. From that point, we would like to see buyers break 31 and 36 resistance to signal that a new short-medium-term trend higher is underway.
A new lower move closing below 25 would be a worry and could tell us that buyer momentum might not be as strong as thought.
Good trading, and enjoy the rest of your Monday.
AVAX, a head and shoulders pattern.The following content is machine translation:
In the 4-hour chart, it is currently near the resistance level of 26. The previous several tests failed to break through, and the head-and-shoulders bottom pattern of the rebounding pattern was retraced.
Indicator macd bullish trend, RSI indicator is running above neutral 50.
Summary: The head-and-shoulders bottom pattern and bullish indicators will break the resistance with a high probability and further rise around 30.
26-07-2022 _ Update Short Term Bearish Idea _ AVAXUSDT H1That’s the 3rd follow-up on Short Term Bearish Idea _ AVAXUSDT H1 originally shared on 20-07-2022 with 1st and 2nd follow-ups on 25-7-2022 and 26-07-2022 respectively.
Target 1 ….. Achieved on 25-07-2022
Target 2 ….. Achieved on 26-07-2022
Target 3 ….. Achieved on 26-07-2022