📊 Analysis:
Support Retracement: AVAX has retraced to a major support level.
Market Context: BTC is also at a support area, suggesting favorable conditions for a potential long trade.
Laddering Strategy: Considering potential sideways movement, laddering into the trade could optimize entry.
Key Levels: Watch for AVAX to potentially test the 20 Daily MA at $48.76 before resuming an upward trend.
Targets: Aim for the next resistance area between $65.00 - $70.00.
Risk Management: Implement a stop loss just below $47.50 to mitigate downside risk.
💡 Note: Keep a close eye on BTC's movement as it may influence AVAX's price action. Adjust your strategy based on evolving market conditions and price dynamics.
Support Retracement: AVAX has retraced to a major support level.
Market Context: BTC is also at a support area, suggesting favorable conditions for a potential long trade.
Laddering Strategy: Considering potential sideways movement, laddering into the trade could optimize entry.
Key Levels: Watch for AVAX to potentially test the 20 Daily MA at $48.76 before resuming an upward trend.
Targets: Aim for the next resistance area between $65.00 - $70.00.
Risk Management: Implement a stop loss just below $47.50 to mitigate downside risk.
💡 Note: Keep a close eye on BTC's movement as it may influence AVAX's price action. Adjust your strategy based on evolving market conditions and price dynamics.
