SOL/BTC – 1H – SELLThe combination Solana/Bitcoin (SOL/BTC) goes from the bullish trendline down.
A bearish descent down to the next support at 0.001486200 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.001536300 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.0014917668 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 0.001536300 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Shooting Star’ candlestick pattern is found. The chart forms ‘Shooting Star’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.001616800 |
| 2nd High | 0.001560000 |
| Next High | 0.001536300 |
| Current Price | 0.001535400 |
| Next Low | 0.001486200 |
| 2nd Low | 0.001479400 |
| 3rd Low | 0.001445000 |
0.001536300 – 0.001503600 – 0.001395300 – 0.001486200 – 0.001479400 – 0.001445000
Trading Signals: FOREX – SOL – SOL/BTC – BTC – Shooting Star –