Let's dive into analyzing Avax coin for futures trading 📈🔍
This coin is currently on an upward trajectory in higher timeframes and cycles, confirming my long entry strategy 💼💰
The key resistance we're currently facing is at $44.49, acting as a daily resistance , If this level is breached, we could see movement towards the $49.44 range, where resistance is relatively weak 💪💲
Breaking the $44.49 resistance could signal a long entry opportunity, with potential further gains ahead 📈💼
A stronger confirmation for a long entry would be a retest of the resistance level with increasing volume and RSI entering overbought territory 📈📊
In the 1-hour timeframe, an early short entry might be considered if the resistance area is convincingly rejected or if the trend breaks 📉🚫 However, given the bullish trend, this short position could serve as a preliminary move with reduced risk ⚠️💼
You can adjust your stop-loss for both entries based on your strategy Personally, for the long position, I might place the stop-loss at the previous low using Dow theory strategy For the short position, I'd consider placing it behind the candle at $41.84 🕯️💼"
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles. 🚀📈
This coin is currently on an upward trajectory in higher timeframes and cycles, confirming my long entry strategy 💼💰
The key resistance we're currently facing is at $44.49, acting as a daily resistance , If this level is breached, we could see movement towards the $49.44 range, where resistance is relatively weak 💪💲
Breaking the $44.49 resistance could signal a long entry opportunity, with potential further gains ahead 📈💼
A stronger confirmation for a long entry would be a retest of the resistance level with increasing volume and RSI entering overbought territory 📈📊
In the 1-hour timeframe, an early short entry might be considered if the resistance area is convincingly rejected or if the trend breaks 📉🚫 However, given the bullish trend, this short position could serve as a preliminary move with reduced risk ⚠️💼
You can adjust your stop-loss for both entries based on your strategy Personally, for the long position, I might place the stop-loss at the previous low using Dow theory strategy For the short position, I'd consider placing it behind the candle at $41.84 🕯️💼"
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles. 🚀📈
