BTC/USDT – 1H – SELLThe combination Bitcoin/Tether (BTC/USDT) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 114723.160000000 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 119450.000000000 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Tweezers Top’ chart pattern is found. The candles form ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 120998.710000000 |
| 2nd High | 120247.800000000 |
| Next High | 119450.000000000 |
| Current Price | 117444.990000000 |
| Next Low | 114723.160000000 |
| 2nd Low | 107429.570000000 |
| 3rd Low | 107245.000000000 |
119450.000000000 – 119273.360000000 – 120247.800000000 – 114723.160000000 – 117103.100000000 – 117301.000000000 — 54.940607694301 – 54.230309193125
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Tweezers Top – –