SOL/BTC – 30M – SELLThe combination Solana/Bitcoin (SOL/BTC) goes from the ascending trendline down.
A bearish trend downwards to the next support at 0.002364600 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.002437100 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.002351154 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 0.002437100 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish 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 | 0.002506000 |
| 2nd High | 0.002445500 |
| Next High | 0.002437100 |
| Current Price | 0.002403500 |
| Next Low | 0.002364600 |
| 2nd Low | 0.002297700 |
| 3rd Low | 0.002250700 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing