Avax - IHS in the making?
已更新
Looks like Avax is currently printing a nice IHS with the neckline sitting around 28-29$.
If this pattern is going to play out we should see a right shoulder forming over the weekend, preferably slightly above the lowest point of the left shoulder, so around 26$ would be ideal. If you are planning to trade this you can place your stop just below 23$ as it should not get below this point (IF it's going to be an IHS that is).
Target should be around 35-36$.
Stay safe!
If this pattern is going to play out we should see a right shoulder forming over the weekend, preferably slightly above the lowest point of the left shoulder, so around 26$ would be ideal. If you are planning to trade this you can place your stop just below 23$ as it should not get below this point (IF it's going to be an IHS that is).
Target should be around 35-36$.
Stay safe!
注释
Looks like Avax couldn't wait for the right shoulder or at least didn't drop as low as I was expecting. Nonetheless, I have seen this before and usually it means strength. It happens when buyers are eager to wait for lower prices, creating these shallow left shoulders. Going to wait how the monday range is gooing to develop. 1-2 days of sideways is allowed. Could still drop to 26$ but less likely now. Target remains the same.
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