ETH/BTC – 1H – SELLThe currency pair Ethereum/Bitcoin (ETH/BTC) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.039180000 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.040340000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles show ‘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 success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.041140000 |
| 2nd High | 0.040760000 |
| Next High | 0.040340000 |
| Current Price | 0.040010000 |
| Next Low | 0.039180000 |
| 2nd Low | 0.037010000 |
| 3rd Low | 0.036610000 |
Trading Signals: CRYPTO – ETH – ETH/BTC – BTC – Bearish Engulfing