Potential Wash out before retracement to fulfill bull flag AVAX

2 apr 2023

Avalanche has been in a 10 day range potentially filling out a bull flag formation. After the flag broke on the daily chart the trend became bearish wicking down back into the flag. This does not invalidate the flag, but if you like myself entered Avalanche early in the pole formation you could either exit on that first breakout or hang tight with a stop loss. The absolute level of a stop loss for a longer-term trade would be the red line. The blue lines are key levels within the past few months.