AVAX 20% profit. 100% more to come !#AVAX / USD Update:
AVAX is currently trading at $20.54
According to Coinlion Trend Trader Indicator, AVAX is currently bullish.
We entered AVAX at $17.16 (03/31/2023) and already took some profits the days (14.15.16.17 of march) Exit 50% of our position (20% profit)
AVAX has crossed the descending channel that we have since 08/14/2022 and if the support and 200EMA holds at $19.17 we might see a huge performance.
Next target : $42.25
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AVAXUSD trade ideas
AVAXUSD (1H) - Bearish reversalHi Traders
AVAXUSD (1H Timeframe)
Waiting for the downward break of 20.230 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 21.250 would cancel the bearish scenario.
Trade details
Entry: 20.230
Stop loss: 21.250
Take profit 1: 19.610
Take profit 2: 18.600
Score: 5
Strategy: Bearish reversal
AVAX three taps clearPrice since June 2022 is in a drawn range and will see some consolidation in certain areas. Based on the price movement, now BINANCE:AVAXUSD has touched three taps on the marked section and could re-test the previous resistance.
This is an overview of what will be my trading plan to take partial profits, namely:
TP1: $19.61
TP2: $22.26
TP3: $25.63
and change each TP to SL+
note: this is not a solicitation of investment, all risks are borne by each only expressing opinions and personal opinions
AVAXUSD ForecastAVAX is in a bearish trend. It has the potential to pulse up to the 18โ18.20 area and fall again. The current momentum is high-risk for any long trades.
1750 is a subjective low; if it holds up, then this will be a bullish pullback; if it fails, then the current setup is in play.
So, bearish interest in this. There are two price targets for a bias of 1640.
AVAXUSD (Daily) - Bullish reversalHi Traders
AVAXUSD (Daily Timeframe)
Waiting for the upward break of 18.66 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 16.08 would cancel the bullish scenario.
Trade details
Entry: 18.66
Stop loss: 16.08
Take profit 1: 20.18
Take profit 2: 22.70
Score: 7
Strategy: Bullish reversal
AVAXUSD Significant upside potentialAVAXUSD is trading inside a Channel Up having formed a Golden Cross (1d) 6 weeks ago.
The RSI suggests that one last pullback is possible before a new 1 month rally starts.
Trading Plan:
1. Buy on the next pullback to the MA200 (1d).
Targets:
1. 25.00 (top of the Channel Up).
Tips:
1. The ideal buy entry would be when the RSI (1d) hits the 30.00 oversold level again.
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3 paths for AVAX (3 Day Heikin)AVAX is at its point of control (price level with highest volume traded over entire coinbase price history) while appearing to be in a newly established descending wedge reversal consolidation pattern. Granted, buyers did marginally outweigh sellers at this level. 60 period money flow is steadily remaining curved up and approaching a positive crossover.
I see 3 paths, one as a short term breakout scenario, and the other two as longer term consolidation with the potential of making new lows before an eventual macro reversal to the upside. Bollinger band width is pinched on this timeframe, potentially signalling some higher volatility will be in the cards over the coming weeks and months.
AVAX has been demolished and i'm building a bag to hold as we approach the next btc halving around a year from today.
AVAX 100 % gains comingWe expect that the price will get rejected at the strong resistance ($21,600 - $22).
You can short it (stop loss recommended) or be patient and wait for a price to drop into our buy zone ($10-$11). From there we expect a pump towards strong resistance again which would be over 100 % gain.
Mid-term the market remains bearish overall .
Avalanche/US DollarThese are levels that I'll be keeping an eye on when dealing with AVAXUSD, and I'll revise as price action progresses.
I adapt to the change in money flow.
Fundamentals:
Amazon Web Services (AWS) has partnered with Ava Labs in a bid to accelerate the adoption of blockchain technology by enterprises, institutions, and governments.
The move has sent the linked Avalanche AVAXUSD token soaring higher in recent days, outperforming even Bitcoin amid a major bull run in the biggest cryptocurrency.
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Seeing that price hit a significant low, potential profit margin resting above current price along with a bearish impulsive followed by a descending channel. I would wait for a break of the $20 & $30 price points and retracement for bullish precursors. We shall see...