AVAX/USDT – 30M – SELLAnd also a ‘Double bottom retreat down’ chart formation is existing. The chart picture shows ‘Double bottom retreat down’. which is a negative pattern signal. The currency pair is likely to fall.
The pair Avalanche/Tether (AVAX/USDT) moves from the bullish trendline down.
A bearish descent downwards to the next support line at 20.720000000 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 22.660000000 could happen.
Consider stop-loss settings accordingly.
And also a ‘Bearish Belt Hold’ chart pattern is found. The chart shows ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 25.980000000 |
| 2nd High | 24.350000000 |
| Next High | 22.660000000 |
| Current Price | 20.950000000 |
| Next Low | 20.720000000 |
| 2nd Low | 17.690000000 |
| 3rd Low | 17.500000000 |
21.220000000 – 18.590000000 – 18.880000000 – 20.720000000 – 17.690000000 – 17.500000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Bearish Belt Hold – Double bottom retreat down