AVAX/USDT – 1H – SELLFurthermore a ‘Double top chart pattern’ chart layout is existing. The chart picture forms ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to go down.
The currency pair Avalanche/Tether (AVAX/USDT) jumps from the bullish trendline down.
A bearish descent downwards to the next support line at 12.23 will continue.
Caution: A possible counter-trend in the direction of resistance at 13.87 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘RSI fall below 30’ indicator signal is existing. The indicator shows ‘RSI fall below 30’. which is often a bearish signal. The currency pair could go down.
Furthermore a ‘%K crosses below %D’ indicator signal is existing. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 13.39 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 13.87 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Belt Hold’ chart pattern is found. The chart forms ‘Bearish Belt Hold’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 15.09 |
| 2nd High | 14.95 |
| Next High | 13.87 |
| Current Price | 12.980000000 |
| Next Low | 12.23 |
| 2nd Low | 12.21 |
| 3rd Low | 12.14 |
13.87 – 14.95 – 14.85 – 13.61 – 14.12 – 14.41 — 51.711476882732 – 19.927288748494 — 100 – 66.666666666667 – 97.370952228278 – 87.574365003028
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bearish Belt Hold – Double top chart pattern – –