AVAX breakout play

2 Nis 2022

Finally had a weekly close above very prominent weekly zone. Price currently breaking thru daily resistance, although we have not yet had a close. After forming an inverse head and shoulders on the 1h chart, price is breaking thru upper level with high volume. On the 30 min, we saw a retest of high after break thru, followed by a bullish engulfing candle close with high volume and wick rejection to the downside.

Stop loss: Beneath recent resistance break
Take profit: At daily zone and fib extension level