I like AVAX short here on this daily candle chart. I am selling all rallies over $100.
Here is my criteria:
1. I see an upward wedge and price action that needs correction + a bearish double top. (80% up since Jan 22 2022)
*If AVAX moves back up into this zone highlighted zone I believe it is prime for a short. In case it does I may open a position soon.
2. Long wicks on top of strong buy days repeatedly show me that the price is continually being rejected out of the $95-105 Zone.
3. Right now its looking neutral (spinning top on current daily candle)
*The last three times this was the case, a sell off followed (all marked with a green vertical line indicating date) except for the current one which is marked.
4. 3/3 of the times pre sell off the MACD was above signal and both metrics were/are above zero
5. 3/3 times pre sell off, RSI histogram sat right where it is now and that matches same dates with the neutral green candles + MACD status
6. Global issues still not settled, crypto is clearly connected to institutional money now because BTC/Crypto go down and up with Wall St
**most of my analysis has been done on 1hour and 4hour charts (mainly make plays based off of 4 hour and use 1 hour to check) THIS trade is based on a 1 day chart which I believe makes the indicators even stronger.
*these are just my ideas which I am making plays on, please be careful when trading.
Check below for some of my other recent ideas and how they played out.
Here is my criteria:
1. I see an upward wedge and price action that needs correction + a bearish double top. (80% up since Jan 22 2022)
*If AVAX moves back up into this zone highlighted zone I believe it is prime for a short. In case it does I may open a position soon.
2. Long wicks on top of strong buy days repeatedly show me that the price is continually being rejected out of the $95-105 Zone.
3. Right now its looking neutral (spinning top on current daily candle)
*The last three times this was the case, a sell off followed (all marked with a green vertical line indicating date) except for the current one which is marked.
4. 3/3 of the times pre sell off the MACD was above signal and both metrics were/are above zero
5. 3/3 times pre sell off, RSI histogram sat right where it is now and that matches same dates with the neutral green candles + MACD status
6. Global issues still not settled, crypto is clearly connected to institutional money now because BTC/Crypto go down and up with Wall St
**most of my analysis has been done on 1hour and 4hour charts (mainly make plays based off of 4 hour and use 1 hour to check) THIS trade is based on a 1 day chart which I believe makes the indicators even stronger.
*these are just my ideas which I am making plays on, please be careful when trading.
Check below for some of my other recent ideas and how they played out.
Comment:
if you stuck with this one you killed it, nice job
Comment:
wow down to $78, if you stuck with it, congrats
Comment:
AVAX now coming back up to $85 where I believe it will be rejected again because of a lack in demand
