AVAX/USDT – 1H – SELLThe currency pair Avalanche/Tether (AVAX/USDT) goes from the ascending trendline down.
A descent downwards to the next support at 20.220000000 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 22.210000000 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Tweezers Top’ chart pattern is discovered. The candles form ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 25.980000000 |
| 2nd High | 24.350000000 |
| Next High | 22.210000000 |
| Current Price | 22.050000000 |
| Next Low | 20.220000000 |
| 2nd Low | 20.140000000 |
| 3rd Low | 18.430000000 |
22.210000000 – 21.490000000 – 21.130000000 – 20.220000000 – 20.140000000 – 18.430000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Tweezers Top