AVAX/USDT – 30M – SELL

The currency pair Avalanche/Tether (AVAX/USDT) goes from the descending trendline down.

A continuation of the downward movement downwards to the next support line at 22.670000000 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 24.280000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance 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 0.79-Level.Continuation of the current descending trend will continue. Current target is 23.5 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 24.280000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ candle chart pattern is existing. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

24.280000000 – 24.330000000 – 24.200000000 – 22.670000000 – 22.860000000 – 23.820000000 — 52.071067251601 – 48.036736694193

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