🔻 AVAX 4H: 8.41 Floor Broke – Short Only on a Failed Retest
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📊 Market state: Downtrend. Price 8.342 (-3.7% 24H) sits below EMA20 8.61, EMA50 8.76 (falling) and EMA200 9.35. Highs keep stepping down (9.06 → 8.74 → 8.67 → 8.65) and the 8.41-8.45 floor from Oct 30-31 just gave way.
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🎯 Plan (SHORT)
Activation: price retests 8.42-8.50, then a 4H candle closes back below 8.40 (entry ~8.40)
Invalidation: a 4H close above 8.50 before activation = setup void
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🛑 Stop loss: 8.789 (above the 8.740 swing high + 0.3×ATR)
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✅ Targets
TP1 7.59 (Sep 18 base) – 2.1R
TP2 7.17 (mid-Sep lows) – 3.2R
TP3 7.00 (late-Aug lows) – 3.6R
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⚖️ Risk: size so a stop-out costs 1% of capital (stop is ~4.6% from entry). The Oct 30 wick at 8.00 may cause a bounce on the way. Confidence: medium.
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Not financial advice. DYOR.
⠀
🔔 Follow for fresh setups every day
$AVAX $BTC
#AVAX #Avalanche #TechnicalAnalysis #BinanceSquare
⠀
📊 Market state: Downtrend. Price 8.342 (-3.7% 24H) sits below EMA20 8.61, EMA50 8.76 (falling) and EMA200 9.35. Highs keep stepping down (9.06 → 8.74 → 8.67 → 8.65) and the 8.41-8.45 floor from Oct 30-31 just gave way.
⠀
🎯 Plan (SHORT)
Activation: price retests 8.42-8.50, then a 4H candle closes back below 8.40 (entry ~8.40)
Invalidation: a 4H close above 8.50 before activation = setup void
⠀
🛑 Stop loss: 8.789 (above the 8.740 swing high + 0.3×ATR)
⠀
✅ Targets
TP1 7.59 (Sep 18 base) – 2.1R
TP2 7.17 (mid-Sep lows) – 3.2R
TP3 7.00 (late-Aug lows) – 3.6R
⠀
⚖️ Risk: size so a stop-out costs 1% of capital (stop is ~4.6% from entry). The Oct 30 wick at 8.00 may cause a bounce on the way. Confidence: medium.
⠀
Not financial advice. DYOR.
⠀
🔔 Follow for fresh setups every day
$AVAX $BTC
#AVAX #Avalanche #TechnicalAnalysis #BinanceSquare
