SOL/BTC – 1H – SELLThe currency pair Solana/Bitcoin (SOL/BTC) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 0.002423400 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.002535500 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.002681000 |
| 2nd High | 0.002599900 |
| Next High | 0.002535500 |
| Current Price | 0.002509500 |
| Next Low | 0.002423400 |
| 2nd Low | 0.002356800 |
| 3rd Low | 0.002334200 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing