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$AVAX : The Triple Zig-Zag Nightmare or a Massive Buy Trap? 💥
$AVAX is currently printing a complex Triple Zig-Zag correction on the high time frame, and the fractals are starting to align. Here is the breakdown you need to see:
📉 The Macro View
Price action is currently hovering at the 1.272 pocket. While this could spark a reversal, the 1.618 ratio (Wave W × 0.618) remains the "favored" mathematical magnet. Are we bottoming out, or is one more leg down coming?
⏱️ 8-Hour Chart: The Liquidity Hunt
The dominant trend has resumed its bearish impulse after a completed ABC correction.
The Zone: We are currently sitting in the Golden Window (0.618-0.786).
The Question: Is this a shakeout reversal to trap shorts, or a heavy continuation pattern? Liquidity is peaking.
⚡ 1-Hour Chart: The "Exotic" Signal
An Exotic Expanded Running Flat recently printed, followed by a 5-wave impulse down (with a truncated 5th).
Current State: We are likely in the middle of a zig-zag, waiting for Wave 2 confirmation.
Critical Invalidation: $12.49. If we break above this, the Triple Zig-Zag is likely finished at the 1.272.
🚀 Key Takeaways:
Bearish Target: The 1.618 of Wave A is the common magnet if support fails.
Bullish Trigger: A clean break and hold above $12.49.
Watch Out: The 1.272 on the 1H chart is a secondary support, but watch the volume!
Is
$AVAX heading for a final flush, or are you long from here? Let me know your bias below! 👇
#AVAX #cryptotrading #Elliottwave #TechnicalAnalysiss #altcoins