BTC/USDT – 30M – SELLThe combination Bitcoin/Tether (BTC/USDT) moves from the ascending trendline downwards
A bearish trend downwards to the next support level at 117000.010000000 will continue.
Caution: A possible change in the direction of the resistance line at 119488.000000000 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 is ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.
Next a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 119488.000000000 |
| Current Price | 119061.400000000 |
| Next Low | 117000.010000000 |
| 2nd Low | 116900.050000000 |
| 3rd Low | 116604.870000000 |
119488.000000000 – 119376.000000000 – 118200.000000000 – 117000.010000000 – 116900.050000000 – 117141.130000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Engulfing –