DOT/USDT – 4H – SELL

The currency pair Polkadot/Tether (DOT/USDT) jumps from the bearish trendline down.

A continuation of the bearish trend downwards to the next support line at will continue.

Caution: A possible reversal of the trend in the direction of resistance at 4.371000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 3.629016 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 4.371000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘On Neck’ chart pattern is found. The chart forms ‘On Neck’. which is a negative signal. The 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).

4.371000000 – 4.181000000 – 3.757000000 – 3.812000000 – 3.817000000 – 3.538000000 — 42.679493802324 – 40.991819147183

Trading Signals: CRYPTO – DOT – DOT/USDT – USDT – On Neck – Rising Wedge Chart Pattern – –