AVAX/USDT – 4H – SELL

The pair Avalanche/Tether (AVAX/USDT) jumps from the ascending trendline down.

A bearish descent down to the next support line at 8.18 will continue.

Caution: A possible counter-trend in the direction of the resistance level at 9.84 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 8.14706 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 9.84 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Three Outside Down’ candle chart pattern is detected. The candles form ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

9.84 – 9.45 – 9.42 – 8.18 – 8.66 – 8.43 —
9.570000000 – 8.970000000 —
58.899299369003 – 47.127323667886 —
– —
9.84 – 1772049600

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