ETH/BTC – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.03901 at the Fibonacci level 0-Level. Caution: A possible change in the direction of support at 0.040030000 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ candle chart pattern is detected. The chart shows ‘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 | 0.040340000 |
| 2nd High | 0.040040000 |
| Next High | 0.040030000 |
| Current Price | 0.039220000 |
| Next Low | 0.039010000 |
| 2nd Low | 0.037880000 |
| 3rd Low | 0.037010000 |
Trading Signals: CRYPTO – ETH – ETH/BTC – BTC – Bearish Engulfing