$AVAX Idea (4H Chart)
▶️ Entry Zone: 18.678 - 20.590
🛑 Stop Loss: 17.902 (Recent low)
🎯 Take Profit 1: 22.924 (EMA(25))
🎯 Take Profit 2: 25.877 (EMA(99))
Analysis:
* Price is significantly below all EMAs (7, 25, 99), indicating a strong bearish trend.
* Recent price action shows a sharp decline with a potential bottoming formation.
* RSI(14) at 14.936 is extremely oversold, suggesting a possible rebound.
* MACD is negative and below the signal line, but the gap is narrowing, hinting at potential bullish divergence.
* 24h price change of -18.19% indicates extreme selling pressure.
The current setup suggests an extremely oversold condition after a sharp decline. While the overall trend remains bearish, there's potential for a short-term bounce or relief rally from these oversold levels.
Caution:
* The broader trend is strongly bearish, so this is a high-risk counter-trend trade.
* Use tight stop-loss orders to manage risk in this volatile market.
* Consider smaller position sizes due to the extreme nature of this trade.
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