AVAXUSDT Short from Tight Range Rejection

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AVAXUSDT is showing signs of exhaustion near the resistance zone around 17.57, where price repeatedly failed to break higher. The market structure is consolidating with multiple wicks into the resistance zone, suggesting supply is stronger than demand at that level.

The current short setup is placed just below that resistance area, aiming for a breakdown from the consolidation. The stop loss is set above the most recent spike at 17.69, while the take profit is targeting near the trendline support at 17.21.

This setup banks on a reversal from the top of the range and offers a solid risk-to-reward.

🧩 Trade Parameters:
- Entry: 17.57
- Stop Loss: 17.69
- Take Profit: 17.21

🔢 Risk:Reward Calculation:
- Risk: 17.69 − 17.57 = 0.12
- Reward: 17.57 − 17.21 = 0.36
- Risk:Reward Ratio: 1 : 3.0 ✅ (Strong)

✅ Bias:
Short-term bearish; ranging top with lower highs

🔄 Confirmation Needed:
- Bearish engulfing or strong rejection candle
- Break below short-term support
- Weak volume on upside attempts

❌ Invalidation:
A clean breakout and hold above 17.69

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