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Previous AVAXUSD chart w/the potential Descending triangle added

Not 100% confident about this descending triangle pattern yet. But if it is indeed valid then the price action should head towards the 158-160 target before too long with some resistance on the way there at around $130 or so depending on where we retest this ascending yellow trendline at.

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If we maintain support on the 1 day 50ma (in orange) we should confirm this potential bullish breakout but not only is there resistance around 130 there is also going to be some resistance around the double top zone of $145 or so most likely as well.

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So far it really looks like it wants to confirm the bullish breakout.

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Price action is quickly making its way back to the yellow trendline tot est its resistance.

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Getting closer to the target but also approaching the yellow trend lines significant resistance.

DrDovetail

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DrDovetail