The combination Avalanche/Tether (AVAX/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support at 17.640000000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 18.410000000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Belt Hold’ chart pattern is detected. The chart forms ‘Bearish Belt Hold’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 20.000000000 |
2nd High | 18.640000000 |
Next High | 18.410000000 |
Current Price | 17.490000000 |
Next Low | 17.640000000 |
2nd Low | 17.550000000 |
3rd Low | 15.590000000 |
18.410000000 – 18.640000000 – 20.000000000 – 17.640000000 – 18.070000000 – 18.130000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Bearish Belt Hold