Many times I have seen a failed H&S pattern play out days later. It appears that a bear flag is forming and that the failed plunge will take place soon. Shown here is the 4 hour chart, showing a recent double top. If the price of AVAX holds above $19.20 than this theory will be invalid.
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This analysis is invalid. What we likely have here is more of a "Wyckoff Reaccumlation Trading Range... or a "Jump Across the Creek" situation. At the time of writing this update, we have jumped accross the creek and have tested the "Last Point of Support" or LPS...and are now entering a Sign of Strength or SOS at $19.50+.
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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.