AVAX/USDT – 1H – SELLThen a ‘Rising Wedge Chart Pattern’ chart formation is found. The chart shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The currency pair Avalanche/Tether (AVAX/USDT) jumps from the ascending trendline downwards
The bearish trend down to the next support line at 17.610000000 will continue.
Caution: A possible change in the direction of the resistance line at 19.170000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Down’ chart pattern is detected. The chart shows ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 22.660000000 |
| 2nd High | 20.000000000 |
| Next High | 19.170000000 |
| Current Price | 18.540000000 |
| Next Low | 17.610000000 |
| 2nd Low | 17.020000000 |
| 3rd Low | 15.610000000 |
19.170000000 – 18.900000000 – 18.170000000 – 17.610000000 – 17.710000000 – 17.020000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Outside Down – Rising Wedge Chart Pattern