Besides a ‘Symmetrical Triangle Chart Pattern’ chart pattern is discovered. The chart forms ‘Symmetrical Triangle Chart Pattern’. which is a bearish chart scenario. The pair is likely to go down.
The combination Avalanche/Tether (AVAX/USDT) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 6.373 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 6.739 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 6.791 |
| 2nd High | 6.773 |
| Next High | 6.739 |
| Current Price | 6.602000000 |
| Next Low | 6.373 |
| 2nd Low | 6.338 |
| 3rd Low | 6.282 |
6.739 – 6.773 – 6.757 – 6.373 – 6.513 – 6.338 —
6.581000000 – 6.658000000 —
53.189036362447 – 63.159015142393 —
– —
6.739 – 1784178000
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Three Outside Down – Symmetrical Triangle Chart Pattern – –