AVAX/USDT – 1H – SELL

The combination Avalanche/Tether (AVAX/USDT) jumps from the bullish trendline down.

A bearish trend downwards to the next support level at 24.430000000 is certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 27.380000000 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The pair is likely to go down.

Then a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 23.5679 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support line at 27.380000000 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘On Neck’ candle chart pattern is found. The candles show ‘On Neck’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

27.380000000 – 25.770000000 – 24.440000000 – 24.430000000 – 24.740000000 – 22.870000000 — 37.558899823002 – 34.812346081342

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – On Neck – Double top chart pattern –