RLinda ! AVAXUSD-> An important zone for the bulls. What's next?

1 déc. 2022

AVAX shows the bulls attempt to overcome resistance. On the chart, the price is trying to break the trend, going into the long zone relative to the important risk zone. What's next?

There is an important level of 12.97 on the chart, which is at the high volume density mark. The price overcame this zone earlier but now a technical pullback to the level is forming, at the same time the price is testing the previously broken resistance. We need to wait for the price to consolidate in one position or another.

We pay attention to the formation of a triangle, there is no extreme wave, so:
1) If the price fixes below the previously broken resistance, below the 12.97 level, it will head for triangle support.
2) But! if the price makes a false breakout of 12.97, it will go back up and when it breaks the resistance of the triangle it will head towards 14.00

Regards R. Linda!

5 déc. 2022

Trade fermée: cible de profit atteinte