avax | Exit from the channel with subsequent correction
Hello everyone, I wrote a new idea for you. I think it's easy to like and subscribe to the channel, thanks😉
📌AVAX we observe an ascending channel at 8H, you can also notice that there was a breakdown of the support level, thus we can understand that in the short term we are expected to have a downward movement.
📌Now the price is testing the channel support zone as a resistance zone, if the price fails to return to the channel, then most likely we will see a downward movement to the zone below $20
📌 I showed an approximate take profit and stop loss on the chart.
Not financial advice, just sharing my thoughts on a chart.
Also leave your comments what do you think about it.
📌AVAX we observe an ascending channel at 8H, you can also notice that there was a breakdown of the support level, thus we can understand that in the short term we are expected to have a downward movement.
📌Now the price is testing the channel support zone as a resistance zone, if the price fails to return to the channel, then most likely we will see a downward movement to the zone below $20
📌 I showed an approximate take profit and stop loss on the chart.
Not financial advice, just sharing my thoughts on a chart.
Also leave your comments what do you think about it.
