BTC/USDT – 4H – SELLThe pair Bitcoin/Tether (BTC/USDT) goes from the descending trendline downwards
A continuation of the downward movement down to the next support line at 114723.160000000 is expected.
Caution: A possible change in the direction of resistance at 120247.800000000 could occur.
Consider stop-loss settings accordingly.
Then a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. 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 | 123218.000000000 |
| 2nd High | 120998.710000000 |
| Next High | 120247.800000000 |
| Current Price | 118317.750000000 |
| Next Low | 114723.160000000 |
| 2nd Low | 107245.000000000 |
| 3rd Low | 106733.330000000 |
120247.800000000 – 120998.710000000 – 123218.000000000 – 114723.160000000 – 116128.000000000 – 116812.760000000 — 56.097503211654 – 50.222724525411
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Double top chart pattern –