BNB/USDT – 1H – SELL

The currency pair Binance Coin/Tether (BNB/USDT) moves from the descending trendline down.

A continuation of the bearish trend down to the next support at 883.8 is likely expected.

Caution: A possible counter-trend in the direction of the resistance zone at 899.8 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair could go down.

Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 867.435 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 899.8 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

899.8 – 904.86 – 869.98 – 883.8 – 851.72 – 837.47 — 43.186618944956 – 43.060746025407 — 72.307384507045 – 45.206740300198 – 77.582346787664 – 69.482366412612

Trading Signals: CRYPTO – BNB – BNB/USDT – USDT – Three Outside Down – Symmetrical Triangle Chart Pattern – –