Long

AVAX - Diamond bottom on the 4h

Updated

AVAX is forming a diamond bottom on the 4h and a bull flag can also be considered.

Breakout from 26.30 and moving above the 200 EMA at 28 will solidify this

Note

The price has broken out favorably, though not explosively. This situation typically leads to a slow upward grind with numerous fluctuations.

Exercise patience, especially during the initial phase, until the price reaches the 35-38 range.

Note

Squeeze is forming in the daily chart. This pullback is healthy, testing the 21MA of the daily chart. Exercise patience, recovery is excepted at the end of day or early tomorrow

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Recovery from early morning drop is taking place. Anticipating the squeeze on the daily this week.

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The squeeze that is forming on the daily should fire this week , fueling the upside

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Daily 50 EMA is giving problems here, acts as strong resistance for 2 days

4H gives a more positive site , with the 12 EMA cross to the 200 EMA and the price finding support there , although price can get as low as the 50 EMA on the 4H chart.

looking deeper into 1h we can potentially see a flag forming

next 1-2 days will clear the direction

Note

The daily squeeze has fired over the weekend, so we are in a bullish bias. Lots of news with elections and etf so expect the pullback and should be considered healthy. Pullback can reach to 30 level and next push upwards should be at 37 level reaching as much as 40 before next major pullback

Note

We got a good reaction on the marked level

Looking at 1h we can see a potential bull flag trying to save the day.

Exercise patients , lots of things are happening at the same time

TheSilkRoad

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