AVAX/USDT – 1H – SELL

The currency pair Avalanche/Tether (AVAX/USDT) jumps from the descending trendline downwards

A continuation of the downward movement down to the next support level at 6.52 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 6.776 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

6.776 – 6.7 – 6.707 – 6.52 – 6.476 – 6.301 —
6.735000000 – 6.669000000 —
55.848329499436 – 43.777400494483 —
– —
6.776 – 1781384400

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bearish Engulfing – – –