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icemansuper

AVAX is in a Elliott Wave; May enter corrective phase soon.

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AVAX / TetherUS (BINANCE:AVAXUSDT)  
icemansuper  
BINANCE:AVAXUSDT   AVAX / TetherUS
Trend Analysis Chart Patterns Beyond Technical Analysis priceaction
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AVAXUSDT
AVAX is in a Elliott Wave; May enter corrective phase soon.
1. From Aug 17, AVAX started to climb up and form motive phase of a typical Elliott Wave. Maybe many "Elliott Wave" traders are trading AVAX. If they are still there, price will probably enter corrective phase soon.
2. From Oct 31, price rises rapidly in a 73 degree angle, making new bulls scared of a buy climax.
3. From MACD(12,26,9), it also shows a clear divergence, may indicate a potential trend reversal.
4. As a conclusion, AVAX is unlikely to continue the trend. Either enter corrective phase to form an ABC wave or at least a trading range before trend continue.
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