BTC/USDT – 4H – SELLNext a ‘Double bottom retreat down’ chart pattern is detected. The chart picture shows ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to fall.
The currency pair Bitcoin/Tether (BTC/USDT) moves from the bullish trendline downwards
A bearish movement down to the next support line at 106733.330000000 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 108952.380000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Next a ‘Bearish Belt Hold’ chart pattern is found. The candles show ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 110718.000000000 |
| 2nd High | 110530.170000000 |
| Next High | 108952.380000000 |
| Current Price | 107810.000000000 |
| Next Low | 106733.330000000 |
| 2nd Low | 106356.760000000 |
| 3rd Low | 98200.000000000 |
108272.450000000 – 106524.650000000 – 108952.380000000 – 106733.330000000 – 106356.760000000 – 98200.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Belt Hold – Double bottom retreat down