Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 7.8545 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 8.633 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Last Engulfing Top’ candlestick chart pattern is existing. The chart shows ‘Last Engulfing Top’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 9.686 |
| 2nd High | 9.315 |
| Next High | 8.633 |
| Current Price | 8.251000000 |
| Next Low | 7.795 |
| 2nd Low | 7.522 |
| 3rd Low | 7.076 |
8.633 – 8.172 – 8.176 – 7.795 – 7.522 – 7.076 —
8.453000000 – 8.282000000 —
62.055094256002 – 50.729581849149 —
– —
8.633 – 1784117100
Trading Signals: CRYPTO – LINK – LINK/USDT – USDT – Last Engulfing Top – – –