DOT/USDT – 30M – SELLThe combination jumps from the ascending trendline down.
A bearish movement down to the next support level at 4.908000000 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 5.429000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 4.908 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 5.429000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candle pattern is found. The candles form ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 5.839000000 |
| 2nd High | 5.430000000 |
| Next High | 5.429000000 |
| Current Price | 5.054000000 |
| Next Low | 4.908000000 |
| 2nd Low | 4.314000000 |
| 3rd Low | 4.239000000 |