AVAX/USDT – 30M – SELL

The combination Avalanche/Tether (AVAX/USDT) moves from the bullish trendline downwards

A bearish movement down to the next support at 17.640000000 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 18.190000000 should always be considered.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 17.93736 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 18.190000000 should always be considered.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Down’ candlestick chart pattern is found. The chart shows ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

18.190000000 – 18.100000000 – 18.640000000 – 17.640000000 – 17.800000000 – 18.070000000

Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Outside Down