Hello, Skyrexians!
Today we have the easiest for analysis altcoin in our opinion, this is $AVAX Previous bull run was very impulsive and after severe bear market this crypto is showing great dynamic. Today we will try to understand the targets for Avalanche for this bull run.
Let's take a look at the weekly time frame. The previous bull run can be interpret as the global wave 1. It has the clear 5 waves impulsive structure. After that price went to corrective wave 2 which has ABC zigzag structure. When 0.61 Fibonacci retracement has been reached price started to reverse.
Now AVAX is in the global wave 3 - the most impulsive wave of super cycle which can bring the highest gains with lowest risks. Wave 1 in wave 3 has been finished with the red dot on Bullish/Bearish Reversal Bars Indicator [Skyrexio]. As always, alerts from this indicator can be automatically replicated on exchange account orders.
Then wave 2 showed us the pull back, which has been finished with the green dot on this indicator. This is the very strong reversal signal which will likely bring the price to the global wave's 3 targets at 1.61 and 2.61 Fibonacci extensions at $260 and $400.
Best regards,
Skyrexio Team
