TradeCityPro | AVAXUSDT Analysis Buyer Resistance
2024-12-14
Category: None

👋  Welcome to TradeCityPro Channel! 
Let’s analyze AVAXUSDT triggers for the upcoming week and prepare for opportunities outside the global market’s regular hours to avoid chasing moves after they occur. 😊

🌍  Market Overview 

First, as always, let’s glance at Bitcoin. BTC recently bounced from the 94,661 support level after a drop and is now struggling with the crucial 101,878 resistance. It also faces the psychological $100K level, which remains a significant barrier for traders. 

For next week, a breakout above 101,878 could present a long opportunity. Setting a stop-buy order now with a stop loss at 98,857 might prevent missing any whale-driven moves, as the market currently aligns more with the Asian trading session.

If this resistance breaks and Bitcoin dominance drops, consider switching focus to altcoins for potential long trades. However, the next move for Bitcoin might be swift, with higher dominance and deeper pullbacks. Analyze it closely on the daily timeframe.


🕒  Weekly Time Frame 

On the weekly chart, AVAX shows strong performance, rallying from $8 to $58 before this bull run. Additionally, it formed a higher low at $20.78 in 2023, a positive sign for this coin. 

The trigger for a long position was the breakout above 32.48 on lower timeframes. If you’ve been following, it’s better to wait for a better entry or accept a stop loss to avoid missing out.

This weekly candle isn’t my favorite unless it turns green, confirming buyer strength for a potential hold. A new entry could be considered at a weekly breakout of 58.73, but this carries high risk and requires a wide stop loss. Lower timeframes may present better opportunities.


📊  Daily Time Frame 

On the daily timeframe, AVAX recently broke 29.35 and 35.7, triggering spot buy entries. Current positions have returned 76% and 42%, respectively. These figures are shared not to induce FOMO but to encourage consistent market engagement and emotion management. Even if you miss an opportunity, other triggers will emerge.

AVAX has completely recovered from its recent drop, showcasing buyer strength, and formed a bullish V-pattern. This pattern’s breakout confirms its bullish nature. The current resistance stands at 54.01, with an additional key level at 60.37. Of these, 54.01 is the primary level to watch. Managing positions after breaking this resistance is crucial, though reactions at 60.37 are still possible.

Long-term members know this zone was previously a no-trade area. Back then, breaking 54.01 often led to stop-outs, while breaking 60.73 indicated whale activity. Depending on your risk tolerance, consider positioning accordingly. Personally, I prefer buying above 54.01 and accepting a stop loss.


🕒  4-Hour Time Frame 

On the 4-hour chart, AVAX has retested its 54.01 resistance and recovered from recent corrections. A breakout above this level could continue its bullish momentum. 

📈  Long Position Trigger 
Long positions after the breakout are valid, with stop-buy orders and a relatively large stop loss. Above 69.14 RSI, momentum may increase significantly.

📉  Short Position Trigger 
For short trades, I’d recommend holding off. As long as Bitcoin trades above 80K, I wouldn’t consider shorting. 😊

💡  BTC Pair Insight 

Against BTC, AVAX has broken a significant weekly trendline and rebounded from strong support. It’s currently testing its trendline trigger, with bullish continuation expected after breaking 0.0005403 BTC. RSI above 70.35 confirms the momentum, boosting confidence in the USDT pair if the market remains bullish.


📝  Final Thoughts 

Stay calm, trade wisely, and let's capture the market's best opportunities!

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️