Based on my observations, I see a setup for a swing trade with significant potential.
Entry Strategy: I will look for confirmation around the $16.53 support zone. Ideally, wait for a bullish candlestick pattern (such as Hammer, Doji, or Bullish Engulfing) to form on the Daily timeframe as an early signal that buyers are starting to take control.
Stop Loss (Risk Management): This is the most important part. To protect capital if the support fails to hold, I will place a Stop Loss below the support zone, for example around the $14.50 level. A daily candle close below $16.00 will be a strong warning signal and a close below $14.50 will be a complete invalidation of this bullish scenario.
Take Profit: The main target of this setup is the resistance level at $55.54. And has a potential profit of more than +230% from the anticipated entry point.
Conclusion
AVAX/USDT is at a very crucial point. Holding support at $16.53 could be the trigger for a significant rally in the coming months. However, failure to hold this level will open the door for further declines.
With a tight Stop Loss, this setup offers an opportunity with a much greater reward/risk ratio. Let’s take a closer look at the price reaction at this support zone.
Disclaimer: These are my personal views and trading plan. It does not constitute financial advice. Do your own research (DYOR) before making any investment decisions.
Entry Strategy: I will look for confirmation around the $16.53 support zone. Ideally, wait for a bullish candlestick pattern (such as Hammer, Doji, or Bullish Engulfing) to form on the Daily timeframe as an early signal that buyers are starting to take control.
Stop Loss (Risk Management): This is the most important part. To protect capital if the support fails to hold, I will place a Stop Loss below the support zone, for example around the $14.50 level. A daily candle close below $16.00 will be a strong warning signal and a close below $14.50 will be a complete invalidation of this bullish scenario.
Take Profit: The main target of this setup is the resistance level at $55.54. And has a potential profit of more than +230% from the anticipated entry point.
Conclusion
AVAX/USDT is at a very crucial point. Holding support at $16.53 could be the trigger for a significant rally in the coming months. However, failure to hold this level will open the door for further declines.
With a tight Stop Loss, this setup offers an opportunity with a much greater reward/risk ratio. Let’s take a closer look at the price reaction at this support zone.
Disclaimer: These are my personal views and trading plan. It does not constitute financial advice. Do your own research (DYOR) before making any investment decisions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.