Coin Name: $AVAX
Position: Short
Entry Price: 19.74 ( Entry this price).
AVAX has formed a descending triangle pattern on the 4-hour timeframe. While a breakout above the upper trendline could signal bullish continuation, the price has already faced rejection at that resistance level. Additionally, the RSI is currently holding within a supply zone, which supports a bearish bias. Based on this setup, opening a short position from the current level could be a valid strategy.
AVAX is currently surrounded by significant liquidity, particularly to the downside. It's likely that price will move lower to tap into that liquidity zone.
BTC.D has formed a falling wedge pattern, which is typically a bullish setup. It has already broken above the upper trendline and completed a clean retest, confirming the breakout. If BTC.D continues to move higher, it could signal a shift of capital back into Bitcoin, often leading to downside pressure across the altcoin market.
Leverage: 3x/5x
Targets:
1st TP 18.50
2nd TP 17.50
3rd TP 16.50
4th TP 15.50
Stop-Loss: 21.50
This is my personal prediction, but as we all know, the crypto market is highly volatile. If you're considering this trade, be sure to conduct your own thorough research before making any decisions.
$AVAX
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