SOL/BTC – 1H – SELL

The currency pair Solana/Bitcoin (SOL/BTC) goes from the bullish trendline down.

A bearish descent downwards to the next support line at 0.001352100 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.001423500 is also possible.
Consider stop-loss settings accordingly.

Furthermore a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.0013521 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.001423500 is also possible.
Consider stop-loss settings accordingly.

Furthermore a ‘Southern Doji’ candlestick pattern is detected. The candles form ‘Southern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).

0.001423500 – 0.001421100 – 0.001413300 – 0.001360400 – 0.001367700 – 0.001382100

Trading Signals: FOREX – SOL – SOL/BTC – BTC – Southern Doji – Double top retreat up