Hello traders ๐บ.
In my previous idea I was talked about the AVAX most probable scenario and what now I want to do is , updating you my friends about the price targets of the AVAX , so if you missed my last idea about the AVAX I highly recommend to go and check them , you can find them in the related ideas down below this idea , as always don't forgot to leaves your comments about my ideas and also you can ask about your favorite coin .
1_pattern :
In the chart above we have a very big triangle which I was talk about that in my last idea about AVAX and also mention the possible price targets of the triangle pattern , but what currently I want do is , talk about the first price target of the triangle pattern based on the double bottom which is inside the triangle , and also use the Fibonacci tools for calculating the accurate level of resistance for it .
As you can see in the chart above we have a W pattern formation , and also we can see that the AVAX price is trying to break above the neck line , which is also the daily resistance structure (blue box) and in my opinion there is high chance to break above the neck line , because :
2_EMA Ribbon :
It now flipping to bullish and also price was retest it as a new support also if you remember I was talked about the flag pattern in my last idea which is currently is playing and AVAX break it to the upside , so we can remain bullish on it , but price still needs to break the daily resistance and also the neck line of the W pattern for reaching the higher price targets .
3_TSI & RSI :
TSI is above the zero line and also we can see that the RSI value is above the 50 , and still we didn't see a divergence to talk about the bearish movements .
4_price target :
The first price target of this W pattern is around 1.0 Fibonacci level , but before that we could see a bearish movements around the ATH price which is alignment with the 0.618 and 0.786 Fibonacci level .
about the higher price targets I will inform you in the next updates .
don't forget that this is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .
In my previous idea I was talked about the AVAX most probable scenario and what now I want to do is , updating you my friends about the price targets of the AVAX , so if you missed my last idea about the AVAX I highly recommend to go and check them , you can find them in the related ideas down below this idea , as always don't forgot to leaves your comments about my ideas and also you can ask about your favorite coin .
1_pattern :
In the chart above we have a very big triangle which I was talk about that in my last idea about AVAX and also mention the possible price targets of the triangle pattern , but what currently I want do is , talk about the first price target of the triangle pattern based on the double bottom which is inside the triangle , and also use the Fibonacci tools for calculating the accurate level of resistance for it .
As you can see in the chart above we have a W pattern formation , and also we can see that the AVAX price is trying to break above the neck line , which is also the daily resistance structure (blue box) and in my opinion there is high chance to break above the neck line , because :
2_EMA Ribbon :
It now flipping to bullish and also price was retest it as a new support also if you remember I was talked about the flag pattern in my last idea which is currently is playing and AVAX break it to the upside , so we can remain bullish on it , but price still needs to break the daily resistance and also the neck line of the W pattern for reaching the higher price targets .
3_TSI & RSI :
TSI is above the zero line and also we can see that the RSI value is above the 50 , and still we didn't see a divergence to talk about the bearish movements .
4_price target :
The first price target of this W pattern is around 1.0 Fibonacci level , but before that we could see a bearish movements around the ATH price which is alignment with the 0.618 and 0.786 Fibonacci level .
about the higher price targets I will inform you in the next updates .
don't forget that this is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .
