AVAX looks bullish, as ADX+DI confirms the bullish momentum up to 1h and it shows it crossing up at 4h. Also the chart pattern suggests this might be a triangle. A different pattern could be a simple steady rise along the support line but a third bounce on it could make a "three little indians" which is a bullish one.
However, at the time I'm writing this signal the price is already +13% from the support and it's also pumping. Entering here could lead to a bigger gain in case of break out but could also be a huge risk in case of failed pump. I personally don't enter trades when price is in such positions but I live it up to you.
Volume profile control line is below price so it's like that is another support zone. In case of break out I think it'll pump at least 20% before facing a serious resistance. in case of breakout, wait for a candle to close over the triangle to be sure. If you wanna enter soon do it with only 30% of what you wanna spend.
Should price retest the support that's where you might enter!
However, at the time I'm writing this signal the price is already +13% from the support and it's also pumping. Entering here could lead to a bigger gain in case of break out but could also be a huge risk in case of failed pump. I personally don't enter trades when price is in such positions but I live it up to you.
Volume profile control line is below price so it's like that is another support zone. In case of break out I think it'll pump at least 20% before facing a serious resistance. in case of breakout, wait for a candle to close over the triangle to be sure. If you wanna enter soon do it with only 30% of what you wanna spend.
Should price retest the support that's where you might enter!
Komentar:
if you entered AVAX when I called it you're +9%, congrats! Currently bounced back on a resistance (which coincide with 0.5 Fib line). I think it's gonna test it again.