Let's dive into analyzing Avax coin for futures trading ๐๐
This coin is currently on an upward trajectory in higher timeframes and cycles, confirming my long entry strategy ๐ผ๐ฐ
The key resistance we're currently facing is at $44.49, acting as a daily resistance , If this level is breached, we could see movement towards the $49.44 range, where resistance is relatively weak ๐ช๐ฒ
Breaking the $44.49 resistance could signal a long entry opportunity, with potential further gains ahead ๐๐ผ
A stronger confirmation for a long entry would be a retest of the resistance level with increasing volume and RSI entering overbought territory ๐๐
In the 1-hour timeframe, an early short entry might be considered if the resistance area is convincingly rejected or if the trend breaks ๐๐ซ However, given the bullish trend, this short position could serve as a preliminary move with reduced risk โ ๏ธ๐ผ
You can adjust your stop-loss for both entries based on your strategy Personally, for the long position, I might place the stop-loss at the previous low using Dow theory strategy For the short position, I'd consider placing it behind the candle at $41.84 ๐ฏ๏ธ๐ผ"
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles. ๐๐
This coin is currently on an upward trajectory in higher timeframes and cycles, confirming my long entry strategy ๐ผ๐ฐ
The key resistance we're currently facing is at $44.49, acting as a daily resistance , If this level is breached, we could see movement towards the $49.44 range, where resistance is relatively weak ๐ช๐ฒ
Breaking the $44.49 resistance could signal a long entry opportunity, with potential further gains ahead ๐๐ผ
A stronger confirmation for a long entry would be a retest of the resistance level with increasing volume and RSI entering overbought territory ๐๐
In the 1-hour timeframe, an early short entry might be considered if the resistance area is convincingly rejected or if the trend breaks ๐๐ซ However, given the bullish trend, this short position could serve as a preliminary move with reduced risk โ ๏ธ๐ผ
You can adjust your stop-loss for both entries based on your strategy Personally, for the long position, I might place the stop-loss at the previous low using Dow theory strategy For the short position, I'd consider placing it behind the candle at $41.84 ๐ฏ๏ธ๐ผ"
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles. ๐๐
