BTC/USDT – 4H – BUYThe currency pair Bitcoin/Tether (BTC/USDT) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 110529.180000000 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at could occur.
Consider stop-loss settings accordingly.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart scenario. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 110529.18 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 110529.180000000 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candlestick chart pattern is detected. The candles form ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 110718.000000000 |
| 2nd High | 110530.170000000 |
| Next High | 110529.180000000 |
| Current Price | 108067.870000000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
110529.180000000 – 108272.450000000 – 106524.650000000 – 106733.330000000 – 106356.760000000 – 98200.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Three Outside Up –