ETH/USDT – 1H – SELL

The pair Ethereum/Tether (ETH/USDT) goes from the ascending trendline down.

A bearish trend downwards to the next support at 2306.72 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 2404.37 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 2285.42 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 2404.37 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candle chart pattern is existing. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

2404.37 – 2323.21 – 2423.75 – 2306.72 – 2300.55 – 2300.22 —
2396.050000000 – 2322.840000000 —
67.053992916955 – 38.051159084384 —
– —
2404.37 – 1777251600

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Outside Down – – –