AVAXUSDT at daily support and likely to bounce

The price is trading at daily support DS1. Very close to it is daily support DS2. The price may bounce from here from DS1 or may also go to DS2 and bounce from there. However, a long is favorable from DS1/DS2 towards daily resistance DR1 around 13.5 area.

עסקה סגורה: היעד הושג:

The price did find the support on daily support DS1 and moved upward from this support. We expected the price to head towards daily resistance DR1. The price has hit the target of the long trade which is daily resistance DR1. The price got rejected from that resistance on the first hit and got pushed back down. We will check if we see another setup on this one and will talk about that in a separate post.