$AVAX
In front of you: 11.13… either a breakthrough or a failure.
After dropping from 11.47 down to 10.07, the price started building higher lows on the 4H, and it’s now back to 10.97.
The important note is that the decline met with gradual buying, but every attempt near 11.13 still hasn’t turned into a confirmed breakout.
That’s why the real decision point is a 4H close above 11.13, then a retest of 11.00–11.13 and holding above it.
If that happens, the path will be open for a retest of 11.47, then 11.80.
As for a break below 10.51, it cancels the recovery scenario, because at that time the price would have lost the most important low built after the downtrend wave.
$AVAX
In front of you: 11.13… either a breakthrough or a failure.
After dropping from 11.47 down to 10.07, the price started building higher lows on the 4H, and it’s now back to 10.97.
The important note is that the decline met with gradual buying, but every attempt near 11.13 still hasn’t turned into a confirmed breakout.
That’s why the real decision point is a 4H close above 11.13, then a retest of 11.00–11.13 and holding above it.
If that happens, the path will be open for a retest of 11.47, then 11.80.
As for a break below 10.51, it cancels the recovery scenario, because at that time the price would have lost the most important low built after the downtrend wave.
$AVAX