Liquidity Hunt and Bullish Confirmation in AVAX
2024-11-19

🔍 Analysis:
In the AVAX chart, an Inverse Head and Shoulders pattern has formed, signaling a potential strong upward move. Sellers attempted to push the price lower, but this failure resulted in liquidity absorption at these levels, indicating weakness in selling pressure and the entry of new buyers.

📈 Entry Conditions:
Enter after the price breaks and stabilizes above the $36.50 neckline of the inverse head and shoulders pattern.

🛡️ Stop Loss:
Place the stop loss at $32.80 (below the key support and right shoulder).

🎯 Target Price:
Target is $51.60.

⚠️ Key Notes:
The neckline break should be confirmed with high trading volume. This signal, after liquidity absorption, can lead to a powerful upward move. Don’t forget to manage risk properly!