Long
AVAXBTC Rising Channel| .618 Fibonacci| POC| Volume
Evening Traders,
Today’s analysis – AVAXBTC- trading in a rising channel where a rotation to the lows of a technical confluence location is probable,
Points to consider,
- Price Action impulsive
- .618 Fibonacci Support
- Bullish OB Confluence
- Low Volume
- RSI overextended
AVAXBTC’s immediate price action is impulsive and is trading towards a technical trade location that has confluence with the .618 Fibonacci and a Bullish OB, allowing for a long entry.
The immediate objective is the Weekly S/R, exceeding this level will lead to a trend continuation.
The current volume profile is below average, an influx is needed for a strong expansion, this will also directly influence the RSI.
Overall, in my opinion, AVAXBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you.
Today’s analysis – AVAXBTC- trading in a rising channel where a rotation to the lows of a technical confluence location is probable,
Points to consider,
- Price Action impulsive
- .618 Fibonacci Support
- Bullish OB Confluence
- Low Volume
- RSI overextended
AVAXBTC’s immediate price action is impulsive and is trading towards a technical trade location that has confluence with the .618 Fibonacci and a Bullish OB, allowing for a long entry.
The immediate objective is the Weekly S/R, exceeding this level will lead to a trend continuation.
The current volume profile is below average, an influx is needed for a strong expansion, this will also directly influence the RSI.
Overall, in my opinion, AVAXBTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Beginner’s luck often stifles growth. Losses and failure are good for you.
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Unlock Blofin Bonuses
Trade with perks & support the community!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.