DOT/USDT – 1H – SELL

The combination Polkadot/Tether (DOT/USDT) goes from the descending trendline down.

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

Caution: A possible counter-trend in the direction of the resistance line at 1.574 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.50082 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 1.574 should be noted.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Down’ candle pattern is found. The chart shows ‘Three Outside Down’. 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 chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.574 – 1.557 – 1.603 – 1.508 – 1.473 – 1.498 —
1.534000000 – 1.544000000 —
43.900757077636 – 52.884093806651 —
– —
1.574 – 1772614800

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