ETH/BTC – 1H – SELLThe currency pair Ethereum/Bitcoin (ETH/BTC) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support at is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.041140000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.03462 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.041140000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.041500000 |
| Next High | 0.041140000 |
| Current Price | 0.034330000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |