AVAX/USDT – 1H – SELLThe currency pair Avalanche/Tether (AVAX/USDT) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 17.020000000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 18.020000000 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 17.125 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 18.020000000 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 18.410000000 |
| 2nd High | 18.280000000 |
| Next High | 18.020000000 |
| Current Price | 17.840000000 |
| Next Low | 17.020000000 |
| 2nd Low | 15.610000000 |
| 3rd Low |
18.020000000 – 18.280000000 – 18.410000000 – 17.020000000 – 15.610000000 – 16.320000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Black Crows –