DOT/USDT – 1H – SELL

The pair Polkadot/Tether (DOT/USDT) jumps from the descending trendline downwards

A continuation of the downward movement downwards to the next support at 3.427000000 is certain.

Caution: A possible trend reversal in the direction of the resistance zone at 3.921000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 3.427 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 3.921000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ chart pattern is existing. The candles form ‘Three Outside Down’. this is a bearish 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’ going down is 69% (Bull Market) & 70% (Bear Market).

3.921000000 – 4.084000000 – 4.309000000 – 3.427000000 – 3.446000000 – 3.626000000 — 56.354567307186 – 54.091277438497

Trading Signals: CRYPTO – DOT – DOT/USDT – USDT – Three Outside Down – Double bottom retreat down – –