$AVAX - Consolidating at a Critical Juncture
Here's the setup I'm tracking:
Level to Hold: Immediate support at $13.00. This level has been tested multiple times recently and is a key psychological zone. A hold here is crucial for any bounce attempt.
Signal: Watch for a strong bullish candle and increaseing volume on a retest of the $13.00 area as a potential long entry signal.
Target: If support holds, the first major resistance to target is the recent swing high around $14.80.
Invalidation: A sustained break and daily close below $12.60 (the recent swing low from Dec 1) would invalidate the bullish structure and likely lead to a test of lower supports.
Stop: Below $12.60
Bias: Neutral, leaning cautiously bullish only above $13.00 support.
