AVAX/USDT – 1H – SELL

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

A continuation of the bearish trend down to the next support level at 6.338 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 6.757 could occur.
Consider stop-loss settings accordingly.

Next a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

6.757 – 6.683 – 6.791 – 6.338 – 6.373 – 6.282 —
6.756000000 – 6.712000000 —
64.262676337057 – 54.460159882603 —
– —
6.757 – 1784073600

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