AVAX/USDT – 1H – SELL

The pair Avalanche/Tether (AVAX/USDT) moves from the descending trendline down.

A continuation of the downtrend down to the next support level at 6.338 is considered certain.

Caution: A possible reversal of the trend in the direction of resistance at 6.757 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 6.558 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 6.757 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Shooting Star’ candle pattern is found. The candles form ‘Shooting Star’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).

6.757 – 6.683 – 6.791 – 6.338 – 6.373 – 6.282 —
6.683000000 – 6.730000000 —
54.126911087975 – 58.862502578593 —
– —
6.757 – 1784073600

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Shooting Star – – –