BTC/USDT – 30M – SELL

The combination Bitcoin/Tether (BTC/USDT) goes from the bearish trendline down.

A continuation of the bearish trend downwards to the next support at 93578.170000000 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 96250.000000000 could happen.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 94768.03952 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 96250.000000000 could happen.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Engulfing’ candle pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

Download BTC/USDT Signal Image

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing