On smaller timeframes such as the 15min chart shown, AVAX looks to be filling in an descending triangle pattern. That simply meaning that AVAX is printing lower highs and equal lows on this timeframe, which is bearish from a technical standpoint.
The trade idea shown is simply to trade the breakdown the smaller rising wedge inside the larger pattern here and to take profits at the lower trendline. Price could push up near the dotted trendline which would provide a better entry.
On smaller timeframes such as the 15min chart shown, AVAX looks to be filling in an descending triangle pattern. That simply meaning that AVAX is printing lower highs and equal lows on this timeframe, which is bearish from a technical standpoint.
The trade idea shown is simply to trade the breakdown the smaller rising wedge inside the larger pattern here and to take profits at the lower trendline. Price could push up near the dotted trendline which would provide a better entry.