BTC/USDT – 4H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 87035.51 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 91224.99 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘StochRSI %K line crosses above %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses above %D line’. which could be a positive chart scenario. The currency pair is likely to rise.
Furthermore a ‘Bearish Engulfing’ candle pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 107500 |
| 2nd High | 97924.49 |
| Next High | 91224.99 |
| Current Price | 82676.430000000 |
| Next Low | 87035.51 |
| 2nd Low | 86806.5 |
| 3rd Low | 86420 |
91224.99 – 97924.49 – 92082.55 – 87035.51 – 87263.53 – 94293.46 —
90488.000000000 – 85638.300000000 —
52.991290199108 – 21.174982439661 —
– —
91224.99000 – 1769184000
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Double top chart pattern – –