DOT/USDT – 1H – SELLThe currency pair Polkadot/Tether (DOT/USDT) jumps from the ascending trendline down.
A bearish movement downwards to the next support at 7.460000000 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 7.735000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Two Crows’ candlestick chart pattern is discovered. The candles form ‘Two Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 8.468000000 |
| 2nd High | 7.802000000 |
| Next High | 7.735000000 |
| Current Price | 7.794000000 |
| Next Low | 7.460000000 |
| 2nd Low | 7.102000000 |
| 3rd Low | 6.520000000 |