Yello, Paradisers! #AVAX is showing a retracement toward the 0.618 Fibonacci zone, aligning with a key support zone, which increases the potential for a bullish move.

💎If #AVAXUSDT shows a bullish Internal Change of Character (I-CHoCH) on lower timeframes after touching the key support zone, it will further increase the likelihood of a bullish reversal from this area.

💎In the case of panic selling, if the price approaches the supportive trendline, it is advisable to wait for the formation of bullish patterns like a W-pattern or an Inverse Head & Shoulders to validate a bullish move. However, it’s crucial to remember that the supportive trendline could act as an inducement, leading the price to take support from a stronger support zone below. This zone has the highest probability of producing a bounce. Be patient and wait for confirmations near these high-probability areas.

💎If the price breaks down and closes a candle below the strong support zone, it will invalidate the bullish outlook. In such a scenario, it would be better to wait for a more favorable price action structure to form before taking any new positions.

🎖Consistency over quick profits is the mantra. Trade smart, Paradisers. Let’s watch this one closely!

MyCryptoParadise
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