LINK/USDT – 4H – SELL

The currency pair Chainlink/Tether (LINK/USDT) moves from the ascending trendline downwards

A descent down to the next support level at 7.481 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 8.6 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 7.316 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of support at 8.6 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Two Crows’ candlestick pattern is discovered. The chart forms ‘Two Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

8.6 – 8.128 – 9.315 – 7.764 – 7.783 – 7.481 —
7.959000000 – 7.916000000 —
39.626101308496 – 47.095317217224 —
– —
8.6 – 1781524800

Trading Signals: CRYPTO – LINK – LINK/USDT – USDT – Two Crows – Symmetrical Triangle Chart Pattern – –