AVAX/USDT – 1H – SELL

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

A bearish trend down to the next support at 22.190000000 will persist.

Caution: A possible change in the direction of resistance at 25.030000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 22.605 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 25.030000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Outside Down’ candle pattern is existing. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

25.030000000 – 23.240000000 – 22.580000000 – 22.190000000 – 20.390000000 – 20.990000000

Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Outside Down –