BTC/USDT – 1H – SELLNext a ‘Rising Wedge Chart Pattern’ chart formation is existing. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The combination Bitcoin/Tether (BTC/USDT) jumps from the ascending trendline downwards
A bearish trend downwards to the next support at 117103.100000000 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 119450.000000000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 120998.710000000 |
| 2nd High | 120247.800000000 |
| Next High | 119450.000000000 |
| Current Price | 117664.560000000 |
| Next Low | 117103.100000000 |
| 2nd Low | 116128.000000000 |
| 3rd Low | 115736.920000000 |
119450.000000000 – 119273.360000000 – 120247.800000000 – 117103.100000000 – 117301.000000000 – 116128.000000000 — 47.088747028608 – 39.971260618597
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern –