BTC/USDT – 4H – SELL

The combination Bitcoin/Tether (BTC/USDT) moves from the ascending trendline downwards

A bearish trend down to the next support level at 107245.000000000 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 118869.980000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 113991.86472 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 118869.980000000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Southern Doji’ candlestick pattern is discovered. The candles show ‘Southern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

118869.980000000 – 110529.180000000 – 108272.450000000 – 107245.000000000 – 106733.330000000 – 106356.760000000

Trading Signals: FOREX – BTC – BTC/USDT – USDT – Southern Doji –