We're looking at a potential short position on the 4H chart. Price has touched the resistance level, signaling a possible reversal. Aim for profits at the previous support level.
⚡️ EURONEXT:AVAX ⚡️ 📅 Timeframe: 1H 🔍3rd Wave Completed, 4th Wave might be completed. 🔄 Currently, the 4th wave is playing out, approaching the typical retracement level. 📉 4th wave might test the 50EMA and face rejection, signaling the start of the 5th wave down
Currently in a 5-wave uptrend, with the 3rd impulsive wave potentially completing. Anticipating a corrective move towards the 4th wave support in the range of 90 - 87.80. The target for the 5th wave is around the $100 range. The (SRSI) is showing oversold.