BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 90236 is expected.
Caution: A possible change in the direction of resistance at 92519.95 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Tweezers Top’ chart pattern is discovered. The chart forms ‘Tweezers Top’. 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 ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 94789.08 |
| 2nd High | 94444.44 |
| Next High | 92519.95 |
| Current Price | 91522.830000000 |
| Next Low | 90236 |
| 2nd Low | 89694.66 |
| 3rd Low | 87250 |
92519.95 – 90832 – 92082.55 – 90236 – 90404 – 89694.66 — 63.552683041406 – 54.593560824714 — 52.712817860592 – 61.343117982807 – 33.426693244081 – 47.935328944827
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Tweezers Top – Rising Wedge Chart Pattern – –