AVAX/USDT – 1H – SELLThe pair Avalanche/Tether (AVAX/USDT) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 6.52 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 6.776000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Last Engulfing Bottom:’ candle pattern is discovered. The chart shows ‘Last Engulfing Bottom:’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 8.372 |
| 2nd High | 6.882 |
| Next High | 6.776000000 |
| Current Price | 6.659000000 |
| Next Low | 6.52 |
| 2nd Low | 6.476 |
| 3rd Low | 6.301 |
6.776000000 – 6.7 – 6.707 – 6.52 – 6.476 – 6.301 —
6.776000000 – 6.724000000 —
64.850169621485 – 48.413928314365 —
6.776000000 – 1781384400 —
– 1781384400
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Last Engulfing Bottom: – Rising Wedge Chart Pattern – –