ETH/USDT – 30M – SELL

Next a ‘Double bottom retreat down’ chart layout is detected. The formation shows ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to fall.

The currency pair Ethereum/Tether (ETH/USDT) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support level at 4270.810000000 is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 4336.020000000 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The currency pair could go down.

Next a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 4289.515 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 4336.020000000 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

4336.020000000 – 4311.230000000 – 4315.350000000 – 4270.810000000 – 4276.760000000 – 4236.000000000 — 56.259262487145 – 53.429381787868

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Engulfing – Double bottom retreat down – –