DOT/USDT – 30M – SELLAdditionally a ‘Rising Wedge Chart Pattern’ chart formation is existing. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to go down.
The combination Polkadot/Tether (DOT/USDT) jumps from the bullish trendline down.
A bearish trend down to the next support at will persist.
Caution: A possible change in the direction of resistance at 4.317000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The currency pair could go down.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 4.14 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 4.317000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Down’ candlestick pattern is discovered. The candles show ‘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 chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4.682000000 |
| 2nd High | 4.598000000 |
| Next High | 4.317000000 |
| Current Price | 4.229000000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
4.317000000 – 4.309000000 – 4.215000000 – 4.097000000 – 3.963000000 – 3.977000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Three Outside Down