🔥 AVAX Rising Wedge: Potential Bearish Move Ahead
In my last AVAX analysis I discussed the possibility of a rising wedge being formed. Rising wedges are, classically speaking, bearish reversal patterns.
As it seems now, AVAX has indeed bounced off the top trend line of the wedge and made its way down. This morning's pump made AVAX bounce off the lower trend line again, but it remains to be seen if AVAX can maintain this bullish price action.
In case of a bearish break out, I'm looking at the area between $55 and $47.5 for both potential bearish targets and a moment to step in the market again and time the bottom.
Happy trading
As it seems now, AVAX has indeed bounced off the top trend line of the wedge and made its way down. This morning's pump made AVAX bounce off the lower trend line again, but it remains to be seen if AVAX can maintain this bullish price action.
In case of a bearish break out, I'm looking at the area between $55 and $47.5 for both potential bearish targets and a moment to step in the market again and time the bottom.
Happy trading
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