BTC/USDT – 1H – SELLMoreover a ‘Double top chart pattern’ chart layout is found. The chart picture shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to go down.
The currency pair Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support at 117453.570000000 is certain.
Caution: A possible counter-trend in the direction of resistance at 120998.710000000 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish 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 ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 123218.000000000 |
| Next High | 120998.710000000 |
| Current Price | 117310.720000000 |
| Next Low | 117453.570000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107429.570000000 |
120998.710000000 – 120063.840000000 – 118490.710000000 – 117453.570000000 – 115736.920000000 – 116900.050000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Engulfing – Double top chart pattern