AVAX/USDT – 1H – SELL

The combination Avalanche/Tether (AVAX/USDT) jumps from the bullish trendline downwards

A bearish descent downwards to the next support line at 8.52 is likely expected.

Caution: A possible change in the direction of resistance at 12.27 could happen.
Consider stop-loss settings accordingly.

Additionally a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 11.23 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 12.27 could happen.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Down’ candle chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative signal. The 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).

12.27 – 12.2 – 11.85 – 11.58 – 11.23 – 11.97 —
11.840000000 – 11.600000000 —
38.844195814525 – 29.317563322558 —
– —
12.27000 – 1769601600

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Three Outside Down – Symmetrical Triangle Chart Pattern – –