Avalanche AVAX Price News Today – Technical Analysis Update, Elliott Wave Price Prediction!

Avalanche AVAX Price News Today - Technical Analysis Update, Elliott Wave Price Prediction!

Foreign [Music] Welcome to another video about avex Avalanche we had a little bit of Movement here so um in most recently so I thought I'd cover it again Um AVX is one of the charts it's not Really moving too much at the moment It's a chart that looks a bit different To other crypto charts and not Necessarily in a positive sense Um I currently give it the benefit of Doubt and I'm saying that this based on The edit wave count could be a wave one To the upside here wave two down another One up and a two down big big problems With that count it would be a bullish Interpretation here of course yeah That's where I said I'll give it a Benefit of the doubt problem with that Chart is that for a wave 2 we've come Down too much if we say one two one two Setup the second wave two is come down Too much not to invalidate it but Um it has come down well more than um You would um want it really because if We consider the Fibonacci levels you Would not want it to drop below the 88.7 FIP level as you can see that was at 25 The moment we broke below that level I Told you And that's been um weeks away you know Weeks in the past months in the past I Told you that if now that that happened

And we dropped below the 88.7 FIB level Expect further declines because any coin That drops below that level has a big Problem and it is just a problem of Sentiment yeah it will take a lot of Money to bring the price back up where It used to be in the last Bull Run so it Will just get more and more difficult For any coin to recover Especially as we did run here into Resistance again fail to break through And then came down so rather bearish Sign the problem with this one two one Two setup which is generally a Buddhist Setup but um the problem is we can Easily count that as a ABC pattern as Well and that would be quite a bearish Setup a b c and we would look at an Impulse down and eventually that coin Might disappear in this scenario if we Have really an ABC and five waves down We would really need to go beyond the Price of the beginning right below a Dollar I think that would be so um Really really difficult Um At the moment we can only look at what Are the options here what are the key Support levels below which level will it Get even more difficult and at what Price do we have the next chance to make A bounce so if we zoom in now so Generally the idea is that this is a Wave two down yeah a b and c and the C

Wave consists of five waves one two Three four and the fifth wave down that Is the wave that should end the bear Market we made a new low we did expect That the idea is now um or well we now Need to look at you know from which Level can we move up uh bear in mind We've made a new low now Um that was here on the 23rd of November We can from any low now could be the Last low but without any strong signals That things are changing Um you are just catching the falling Knife if you buy in here Um I am always very careful with these Uh things but we have certain Interesting developments on the chart I Want to tell you about first of all Let's establish key support levels key Support level here is 12 dollars And if we drop below for 12 I think We're going to come down to around 9.28 9.30 this is a key support level Which is um here we had a double bottom Here back in July 21 and this is also an Area where this very strange movement in The beginning was basically hovering Around in that range between 12 and 9.30 So it is an area where ideally we don't Drop below until we hold that support And move up from there at the moment my Primary expectation would be we go down To that level at around 9 30 and start The new bull run from there that would

Be my primary expectation however if we Go below 9 30 You know this is pure speculation at the Moment because I have no signal that Things are changing but this is sort of The Last Resort here it really needs to Turn around there or we drop much much Much much further okay Um so it's basically a make or break Point for avex Um one interesting development on the Chart is this yeah so this might become Some kind of a descending wedge maybe It's already well it already is one you Could argue here Um so that's generally a bullish Reversal pattern or at least a pattern Where the downtrend is starting to get Exhausted so this if that breaks out to The upside yeah and we might move Sideways for a bit and then attempt a Breakout then that is a sign that the Downtrend or an early sign that the Overall downtrend could be over So primary expectation is that we are Heading further down here Um I'm just looking at I mean if this is Away five here you know And we consider that as an ending Diagonal Then you've got several options to count This really on the in the sub waves Really but we could say this was a one

Two Three Four and this was a five if that is the Case that this was a completed five then We could attempt a breakout from here we Could do but I would rather say one more Low is missing Um in a fifth wave and however it's not Needed it's not needed we made that new Low yeah and the minimum expectations to End this correction are complete So if we say that we now have a chance Yeah this is a five wave move to the Upside that we had here so so we could Say there is an attempt and the move Down is currently three waves so we Could say but it's not high confidence Yeah one up two down and we could ready From here Um Key support that we need to hold would Be the 12 level so very easy so it could As long as we hold above 12 we can Attempt a rally ideally it would start Now at the 61.8 percent flip level from 1250 but then without a break above the Wave one high at 1428 and a break above The descending trend line of the Descending wedge I don't really believe That the low is already in so it's Certainly not primary expectation but You need to know about the option that We could start from here it's really the First time I think that I tell you that

Apex could have finished the correction From here so be aware this moment is Here Um it's not absolutely not high Confidence and I have shared my risks or Concerns about the higher level wave Count anyway so just be aware of that Um I'm not saying you to buy I'm not Telling you this is bullish what I tell You is that the minimum expectations of The downtrend completion are now Fulfilled Um and we could attempt now a move to The upside but at the moment the signs Are still too weak so it's something Maybe for the watch list Um but considering the higher level Structure and wave pattern I'm still a Bit concerned about avex yeah Um but these are definitely the key Levels where it could attempt a reversal And be very close so either from 12 or From nine dollars and 30. and then we Could look at high prices in the future So I can give you some targets for the Next Blue run but please understand that This is not me giving you a Target where I think it's gonna definitely gonna be Reached this is more a Target that I Think if we recover then we have a good Chance to get there in an all-time high Scenario and we're talking here for a Wave three about the price of so one two Here basically this is a one two then

Another one two and in the White Wave Three we'd be talking about 253 dollars Then there would be way four and away Five that could take us even all the way Up to 400 that would be only the Green Wave three so it would all take us way Higher right so we could talk about 500 600 Um but of course it needs to recover for That purpose and for to do that and it It looks like a massive head and Shoulders which is certainly not bullish I have to tell you that as well so um Yeah I mean we need to wait for a signal At the moment we have no signal I gave You the key levels from where I believe A reversal is possible But we're far away from anything where We could confidently say that bottom is In here Um okay and that's my update about Apex I hope you liked the update if you did Please hit the like button leave a Comment and subscribe and if you really Like the content then please check out The channel membership thanks a lot for Watching bye [Music] Thank you

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