AVAX/USDT – 30M – SELL

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

A continuation of the downtrend downwards to the next support at 8.69 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 8.96 could happen.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 8.725 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 8.96 could happen.
Consider stop-loss settings accordingly.

In addition a ‘Bearish Engulfing’ candlestick pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

8.96 – 9.07 – 9.08 – 8.69 – 8.74 – 8.37 —
8.920000000 – 8.950000000 —
48.985621829017 – 51.751967880951 —
– —
8.96 – 1774965600

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bearish Engulfing – Symmetrical Triangle Chart Pattern – –