AVAX/USDT – 1H – SELLIn addition a ‘Rising Wedge Chart Pattern’ chart layout is found. The chart forms ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to fall.
The currency pair Avalanche/Tether (AVAX/USDT) moves from the ascending trendline down.
A bearish movement down to the next support line at 17.020000000 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 18.900000000 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The currency pair could go down.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 17.255 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 18.900000000 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three Inside Down’ candlestick pattern is detected. The candles show ‘Three Inside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 22.660000000 |
| 2nd High | 20.000000000 |
| Next High | 18.900000000 |
| Current Price | 18.040000000 |
| Next Low | 17.020000000 |
| 2nd Low | 15.610000000 |
| 3rd Low |
18.900000000 – 18.170000000 – 18.020000000 – 17.020000000 – 15.610000000 – 16.320000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Three Inside Down – Rising Wedge Chart Pattern