AVAX/USDT – 1H – BUY

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

A continuation of the upward movement up to the next resistance level at 25.200000000 is considered certain.

Caution: A possible counter-trend in the direction of support at 23.510000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is considered certain. Current target is 25.2 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of resistance at 25.200000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Inverted Hammer’ candle pattern is found. The candles show ‘Inverted Hammer’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Inverted Hammer’ heading up is 65% (Bull Market).

24.280000000 – 24.330000000 – 24.200000000 – 23.510000000 – 22.670000000 – 22.860000000 — 66.639661137694 – 71.969420902051

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Inverted Hammer – – –