AVAX short, upward wedge and more
Updated
I like AVAX short here on this daily candle chart. I am selling all rallies over $100.
Here is my criteria:
1. I see an upward wedge and price action that needs correction + a bearish double top. (80% up since Jan 22 2022)
*If AVAX moves back up into this zone highlighted zone I believe it is prime for a short. In case it does I may open a position soon.
2. Long wicks on top of strong buy days repeatedly show me that the price is continually being rejected out of the $95-105 Zone.
3. Right now its looking neutral (spinning top on current daily candle)
*The last three times this was the case, a sell off followed (all marked with a green vertical line indicating date) except for the current one which is marked.
4. 3/3 of the times pre sell off the MACD was above signal and both metrics were/are above zero
5. 3/3 times pre sell off, RSI histogram sat right where it is now and that matches same dates with the neutral green candles + MACD status
6. Global issues still not settled, crypto is clearly connected to institutional money now because BTC/Crypto go down and up with Wall St
**most of my analysis has been done on 1hour and 4hour charts (mainly make plays based off of 4 hour and use 1 hour to check) THIS trade is based on a 1 day chart which I believe makes the indicators even stronger.
*these are just my ideas which I am making plays on, please be careful when trading.
Check below for some of my other recent ideas and how they played out.
Here is my criteria:
1. I see an upward wedge and price action that needs correction + a bearish double top. (80% up since Jan 22 2022)
*If AVAX moves back up into this zone highlighted zone I believe it is prime for a short. In case it does I may open a position soon.
2. Long wicks on top of strong buy days repeatedly show me that the price is continually being rejected out of the $95-105 Zone.
3. Right now its looking neutral (spinning top on current daily candle)
*The last three times this was the case, a sell off followed (all marked with a green vertical line indicating date) except for the current one which is marked.
4. 3/3 of the times pre sell off the MACD was above signal and both metrics were/are above zero
5. 3/3 times pre sell off, RSI histogram sat right where it is now and that matches same dates with the neutral green candles + MACD status
6. Global issues still not settled, crypto is clearly connected to institutional money now because BTC/Crypto go down and up with Wall St
**most of my analysis has been done on 1hour and 4hour charts (mainly make plays based off of 4 hour and use 1 hour to check) THIS trade is based on a 1 day chart which I believe makes the indicators even stronger.
*these are just my ideas which I am making plays on, please be careful when trading.
Check below for some of my other recent ideas and how they played out.
Note
if you stuck with this one you killed it, nice jobNote
wow down to $78, if you stuck with it, congratsNote
AVAX now coming back up to $85 where I believe it will be rejected again because of a lack in demand
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