ETH/BTC – 1H – SELLThe combination Ethereum/Bitcoin (ETH/BTC) jumps from the descending trendline down.
A continuation of the downtrend down to the next support line at 0.024820000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.025310000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Next a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.025810000 |
| 2nd High | 0.025770000 |
| Next High | 0.025310000 |
| Current Price | 0.024820000 |
| Next Low | 0.024820000 |
| 2nd Low | 0.024590000 |
| 3rd Low | 0.023270000 |
0.025310000 – 0.025250000 – 0.025770000 – 0.024820000 – 0.024930000 – 0.024590000
Trading Signals: FOREX – ETH – ETH/BTC – BTC – Northern Doji – Double bottom retreat down