AVAX · 1H · DOWNTREND

The structure here is unambiguous — AVAX has been printing lower highs and lower lows since mid-May, dropping from above 10.00 all the way down to the current 6.65 area. The most recent leg from ~8.80 down to the 6.40 lows was sharp and accelerated, and price is now grinding sideways in a tight band between roughly 6.40 and 6.80, which looks like a dead-cat consolidation rather than a base. Every rally attempt gets faded, and there's no structural shift yet — no higher high, no reclaim of a meaningful level. I'm not looking to catch the falling knife long here. The trend is down, the path of least resistance is down, and I'm shorting into any bounce toward the overhead cluster around 6.80–7.00 where prior consolidation structure sits.

Price is currently right in the middle of the recent chop zone. Mid-range short gives me worse R/R, so I'm letting price push into the 6.80–7.00 resistance band before I pull the trigger. A rejection candle there on the 1H is my confirmation, and then I'm short targeting the 6.40 swing low first, with 6.00 as the extended target.

Setup: SHORT (conditional — on rejection at resistance)

- Entry: 6.80

- Stop Loss: 7.10

- Take Profit 1: 6.40

- Take Profit 2: 6.00

- Risk/Reward: 1.3:1 to TP1 / 2.7:1 to TP2

- Confidence: MEDIUM