AVAX/USDT – 1H – SELL

The combination Avalanche/Tether (AVAX/USDT) goes from the bearish trendline down.

A continuation of the downward movement down to the next support line at 12.81 is certain.

Caution: A possible counter-trend in the direction of resistance at 13.47 should be noted.
Consider stop-loss settings accordingly.

Additionally a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 12.81 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support zone at 13.47 should be noted.
Consider stop-loss settings accordingly.

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

13.47 – 13.79 – 14.83 – 12.81 – 12.89 – 13.24 — 40.379147217542 – 38.205455893496 — 10.044885745375 – 10.044885745375 – 6.6965904969169 – 10.044885745375

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