BTC/USDT – 30M – BUYThe currency pair Bitcoin/Tether (BTC/USDT) breaks through the descending trendline up.
The bullish trend up to the next resistance level at 118499.900000000 is expected.
Caution: A possible trend reversal in the direction of the support line at 116812.760000000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bullish signal. The currency pair is likely to rise.
Moreover a ‘Two-Candle Shooting Star’ candlestick pattern is existing. The candles form ‘Two-Candle Shooting Star’. 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 success rate of a ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 120998.710000000 |
| 2nd High | 120820.710000000 |
| Next High | 118499.900000000 |
| Current Price | 117718.520000000 |
| Next Low | 116812.760000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107429.570000000 |
118499.900000000 – 118371.420000000 – 120820.710000000 – 117943.250000000 – 116812.760000000 – 118395.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Two-Candle Shooting Star –