SOL/USDT – 1H – SELL

The currency pair Solana/Tether (SOL/USDT) moves from the ascending trendline down.

A bearish descent downwards to the next support line at 174.800000000 will persist.

Caution: A possible reversal of the trend in the direction of resistance at 184.670000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 176.69 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 184.670000000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Two Crows’ candlestick pattern is found. The candles show ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

184.670000000 – 178.190000000 – 176.000000000 – 174.800000000 – 173.240000000 – 171.210000000

Trading Signals: FOREX – SOL – SOL/USDT – USDT – Two Crows –