Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 6.234872 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 6.773 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 7.088 |
| 2nd High | 6.834 |
| Next High | 6.773 |
| Current Price | 6.500000000 |
| Next Low | 6.282 |
| 2nd Low | 6.27 |
| 3rd Low | 5.963 |
6.773 – 6.834 – 7.088 – 6.282 – 6.317 – 6.27 —
6.749000000 – 6.632000000 —
56.072464242276 – 42.800635741343 —
– —
6.773 – 1784117100
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bearish Engulfing – – –