AVAX/USDT – 1H – SELL

The combination Avalanche/Tether (AVAX/USDT) moves from the bearish trendline down.

A continuation of the downtrend down to the next support line at 23.180000000 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 24.140000000 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 23.18 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 24.140000000 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Matching Low’ candle chart pattern is discovered. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

24.140000000 – 25.680000000 – 25.660000000 – 23.360000000 – 23.570000000 – 23.460000000 — 33.237767553699 – 32.378731104701

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Matching Low – Double top chart pattern – –