SOL/BTC – 30M – SELL

The combination Solana/Bitcoin (SOL/BTC) jumps from the descending trendline down.

A continuation of the downtrend down to the next support line at 0.001452600 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.001539900 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘RSI fall below 30’ indicator signal is discovered. The indicator shows ‘RSI fall below 30’. which is often a bearish chart signal. The currency pair could go down.

In addition a ‘StochRSI fall below 80’ indicator signal is discovered. The indicator shows ‘StochRSI fall below 80’. which is often a bearish chart signal. The currency pair could go down.

In addition a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish chart scenario. 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 expected. Current target is 0.0014526 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 0.001539900 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘On Neck’ candle chart pattern is found. The chart forms ‘On Neck’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

0.001539900 – 0.001527600 – 0.001543800 – 0.001452600 – 0.001486500 – 0.001471000 — 48.450572307523 – 47.072236633057

Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – On Neck – – –