AVAX/USDT – 4H – BUY

The currency pair Avalanche/Tether (AVAX/USDT) breaks through the ascending trendline up.

A continuation of the bullish trend up to the next resistance at 22.660000000 is expected.

Caution: A possible trend reversal in the direction of the support zone at 17.500000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Current target is 21.53 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 22.660000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Bearish Harami Cross’ candle chart pattern is detected. The chart forms ‘Bearish Harami Cross’. which is a bearish 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 Harami Cross’ going down is 57% (Bull Market) & 56% (Bear Market).

21.530000000 – 19.170000000 – 18.280000000 – 17.500000000 – 17.610000000 – 17.020000000

Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Bearish Harami Cross – Double bottom retreat down