Updated

AVAX heads up at $36.85: key fib resistance, maybe "lower high"

AVAX is approaching a Genesis fib level at $36.85.
That major fib is backed with a local fib at $36.98.
So we watch $37 closely, for clues to the next move.

Rejection here could mark a new "lower high".
But a break should jump to red zone at 42.99-44.75.
So a break of $37 will be key to uptrend continuation.

Here is the full plot of AVAX Genesis Fib:

See the "related ideas" below for more info about my methodology.

Note

Looking like a rejection thus far, as seen on the hourly:

Loss of minor fib at 3$35.15 was a bear sign, now watching major fib below at $ 33

.

Note

Playing the fib zones PERFECTLY thus far

Again threatening to break out

Zoom in (15 min) and adding a fib for last bounce:

possible next target is $37.25

====================================================================================

.

Note

$37.25 hit, the 15 min target from last post:

the local 4.236 was actually pierced, but pulling back. Watching the local 2.618 for first possible support.

==============================================================================================

Note

local 2.618 doing its best to hold

But looking like its going to break.
Bulls got two good bounces already.
Probably the last chance here, "Strike Three"

==============================================================================================

.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

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.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag