BTC/USDT – 30M – SELL

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

A continuation of the downward movement downwards to the next support line at 78558.65 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 78878.77 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘MACD crosses below signal’ indicator signal is detected. The indicator shows ‘MACD crosses below signal’. which could be a negative signal. The currency pair is likely to fall.

Also there is a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 78619.74 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 78878.77 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Outside Down’ candle chart pattern is discovered. The candles form ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

78878.77 – 79199.48 – 78596.61 – 78558.65 – 78084.08 – 78094.43 —
78764.860000000 – 79383.780000000 —
55.352386202608 – 72.768524027056 —
– —
78878.77 – 1777809600

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