AVAX Long Position (Potential Bounce in Conviction Zone
2024-09-10

Market Context: AVAX is still in a downtrend but has retraced over 60% from its previous high and is trading in a strong conviction zone. The price is setting higher lows and has reclaimed the 21-day EMA, signaling buyer strength.

Trade Setup:

Entry: Long spot position around $23.
Take Profit:
First target: $29 - $32
Second target: $40 - $44
Stop Loss: Daily close under $20.