ETH/USDT – 1H – SELLThe combination Ethereum/Tether (ETH/USDT) moves from the bullish trendline downwards
A descending movement downwards to the next support level at 4350.010000000 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 4481.090000000 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candle chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 4490.640000000 |
| 2nd High | 4490.000000000 |
| Next High | 4481.090000000 |
| Current Price | 4535.810000000 |
| Next Low | 4350.010000000 |
| 2nd Low | 4300.590000000 |
| 3rd Low | 4277.060000000 |
4481.090000000 – 4453.570000000 – 4381.870000000 – 4350.010000000 – 4300.590000000 – 4277.060000000 — 69.930725290413 – 65.068359961861
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Bearish Engulfing – Triple bottom chart pattern – –