High risk trade
Updated
This is a 4-hour chart analysis of the AVAX/USDT pair, highlighting key support and resistance levels. The market has experienced several fake breaks near the upper resistance. The area between $24.70 and $25.40 serves as a strong support zone, and a potential entry point for a buy position.
Trade Breakdown:
- Buy Entry 🟢: Support zone at $24.70 - $25.40
- Target 🎯: Resistance area at $32.55
- Stop Loss (SL) 🚫:
- High Risk SL: Below $24.70
- Best SL: Below $22.00
This analysis suggests that traders could consider entering a long position around the support zone while setting appropriate stop-loss levels to manage risk.
Trade Breakdown:
- Buy Entry 🟢: Support zone at $24.70 - $25.40
- Target 🎯: Resistance area at $32.55
- Stop Loss (SL) 🚫:
- High Risk SL: Below $24.70
- Best SL: Below $22.00
This analysis suggests that traders could consider entering a long position around the support zone while setting appropriate stop-loss levels to manage risk.
Trade active
R/R = 2
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