AVAX / TetherUSShort
avax | Exit from the channel with subsequent correction
Hello everyone, I wrote a new idea for you. I think it's easy to like and subscribe to the channel, thanks😉
📌AVAX we observe an ascending channel at 8H, you can also notice that there was a breakdown of the support level, thus we can understand that in the short term we are expected to have a downward movement.
📌Now the price is testing the channel support zone as a resistance zone, if the price fails to return to the channel, then most likely we will see a downward movement to the zone below $20
📌 I showed an approximate take profit and stop loss on the chart.
Not financial advice, just sharing my thoughts on a chart.
Also leave your comments what do you think about it.
📌AVAX we observe an ascending channel at 8H, you can also notice that there was a breakdown of the support level, thus we can understand that in the short term we are expected to have a downward movement.
📌Now the price is testing the channel support zone as a resistance zone, if the price fails to return to the channel, then most likely we will see a downward movement to the zone below $20
📌 I showed an approximate take profit and stop loss on the chart.
Not financial advice, just sharing my thoughts on a chart.
Also leave your comments what do you think about it.
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.