The Trust Layer for Market Analysts

This is a technical analysis of the AVAXUSD cryptocurrency pair on the Coinbase exchange. The current price of AVAXUSD is 17.21. The presenter suggests that AVAXUSD is trying to hold support between 12.50 and 16.85. On some exchanges, the October low broke below the April low. There is a micro five-wave move up, and this could be an expanded flat structure. The wave one is indicating a new trend to the upside, but this was a very deep pullback, but the breakout to the upside was very high. The presenter identifies a potential one-two setup for AVAXUSD, but the B wave is a corrective flat correction is a three-wave move. So, in an expanded flat, the C wave is a five-wave move, and it ends below the A wave low, indicating a possible corrective pattern. He also suggests, that a one-two set up and break above $24 could start a third wave. He finds targets around the previous high of $60, and sets a failure at $11.19. Therefore, there is a real potential for the market to turn around here, because this is a support area.