AVAX/USDT : Take the opportunity to survive or dive below $80 !
AVAXUSDTHello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
Currently, we have a consolidation that is channeling into support.
Price usually bounces from these levels.
🔴 If this level is lost, it opens up the possibility of retracing back to 85-80.
Otherwise, we should bounce here and break above the green dotted line and breaking the local market's structure of the consolidation.
Strong candle above, re-test the level then target the weekly range high, would be the plan.
I would take the aggressive LONG from the bottom of channel and ride it as I mentioned above; But have to mention the importance of any rejection below this level, Which could lead the pair below our Weekly range !
📚 So you might ask your selves, Why would take the aggressive plan here in the middle of market's craps ? So let's a quick note below 👇🏼
- The pros of taking an aggressive trade : can allow you to position early, less chance of missing entry, etc, but the setup has a lower probability of success
- The pros of taking a conservative trade : higher probability that the trade is successful (more conditions trigger) but can be more difficult to position.
So now you can find-out that I'm eying the possibility of catch the falling knife with a tight stop-loss as a candle close trigger !
So you need to manage your risks directly and I would suggest to point the support loss as a hold confirmation below $98...
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Have a good day!
Helical_Trades
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