$AVAX$: Bullish 🐂 [Extended Analysis]

What’s up: In the daily timeframe, a descending channel pattern has emerged, while a golden cross [50EMA crossing 144EMA] has been confirmed, and 169EMA and 200EMA current await the next crosses. If the descending channel pattern is broken, there is a possibility of a significant bullish move of approximately 150-160%. However, I’d put this play in the long-term category and expect short-term volatility to emerge.

The Long-Term Play: 3-6 months
5.48-to-1 PL Ratio.
Entry: 19.831; Target: 39.500; SL: 16.241.

TA Methodologies:

1. Supply & Demand Theories
2. Price Momentum
3. Fibonacci Retracements & Extensions SR Zones
4. Trendline Breakout
5. RSI Movement Strengths

Disclaimer: I would like to make it clear that I am sharing my analysis as a means of documenting, refining, and enhancing my thinking process. It is important to note that none of the information I provide should be construed as financial guidance. It is advisable that you conduct your own research.