BTC/USDT – 4H – SELL

The pair Bitcoin/Tether (BTC/USDT) goes from the ascending trendline down.

A bearish movement downwards to the next support level at 107245.000000000 is likely expected.

Caution: A possible change in the direction of the resistance line at 119800.000000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

Furthermore a ‘RSI fall below 30’ indicator layout is existing. The indicator shows ‘RSI fall below 30’. which is often a bearish chart scenario. The pair is likely to go down.

Furthermore a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 114723.16 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 119800.000000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Down’ chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

119800.000000000 – 120247.800000000 – 120998.710000000 – 114723.160000000 – 116128.000000000 – 116812.760000000 — 26.726729650886 – 26.092419131039

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Three Outside Down – Rising Wedge Chart Pattern –