BTC/USDT – 30M – SELLThe combination Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 69718 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 71751.33 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘StochRSI %K falls below 0.8’ indicator layout is detected. The indicator is ‘StochRSI %K falls below 0.8’. which is often a bearish chart signal. The currency pair could go down.
Moreover a ‘Shooting Star’ candle chart pattern is found. The chart shows ‘Shooting Star’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 76971.52 |
| 2nd High | 71978.58 |
| Next High | 71751.33 |
| Current Price | 70136.870000000 |
| Next Low | 69718 |
| 2nd Low | 60000 |
| 3rd Low |
71751.33 – 71500 – 66826.5 – 69718 – 60000 – 70140 —
70680.540000000 – 71191.880000000 —
59.580823913231 – 53.394183865196 —
– —
71751.33 – 1770418800
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Shooting Star – – –