BTC/USDT – 1H – BUYNext a ‘Head and Shoulder chart pattern’ chart layout is existing. The chart shows ‘Head and Shoulder chart pattern’. this is a bearish pattern signal. The currency pair is likely to go down.
The pair Bitcoin/Tether (BTC/USDT) goes from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 109700.000000000 is considered certain.
Caution: A possible change in the direction of the support zone at 107245.000000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bullish signal. The currency pair is likely to rise.
Next a ‘Bearish SBS White Lines’ chart pattern is detected. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 110530.170000000 |
| 2nd High | 110529.180000000 |
| Next High | 109700.000000000 |
| Current Price | 107901.520000000 |
| Next Low | 107245.000000000 |
| 2nd Low | 106733.330000000 |
| 3rd Low | 106356.760000000 |
109700.000000000 – 110529.180000000 – 108789.990000000 – 107245.000000000 – 106733.330000000 – 107250.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish SBS White Lines – Head and Shoulder chart pattern