BTC/USDT – 30M – SELL

The combination Bitcoin/Tether (BTC/USDT) goes from the descending trendline down.

A continuation of the downtrend downwards to the next support at 68531.5 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 71751.33 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

71751.33 – 71500 – 66826.5 – 68531.5 – 69718 – 60000 —
69727.860000000 – 69500.000000000 —
48.096156567331 – 47.930359907969 —
– —
71751.33 – 1770418800

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Symmetrical Triangle Chart Pattern – –