The combination Bitcoin/Tether (BTC/USDT) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 62537.560000000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 64896 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The pair is likely to go down.
Moreover a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 65600 |
| 2nd High | 64997.52 |
| Next High | 64896 |
| Current Price | 63961.200000000 |
| Next Low | 62537.560000000 |
| 2nd Low | 61824.97 |
| 3rd Low |
64896 – 64997.52 – 65600 – 62537.560000000 – 62666 – 63838.28 —
63180.000000000 – 64153.520000000 —
46.537033051876 – 68.429702521709 —
62537.560000000 – 1784295000 —
64896 – 1784214000
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –