SOL/BTC – 30M – SELLThe currency pair Solana/Bitcoin (SOL/BTC) jumps from the ascending trendline downwards
A bearish movement downwards to the next support at 0.001957800 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.001982000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.0019576 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.001982000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.002009000 |
| 2nd High | 0.001991300 |
| Next High | 0.001982000 |
| Current Price | 0.001973200 |
| Next Low | 0.001957800 |
| 2nd Low | 0.001957600 |
| 3rd Low | 0.001878000 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing