BTC/USDT – 1H – SELLThe combination Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline down.
A descent downwards to the next support level at 116128.000000000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 119676.730000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Tweezers Top’ candle pattern is discovered. The chart shows ‘Tweezers Top’. 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 ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 123218.000000000 |
| 2nd High | 120998.710000000 |
| Next High | 119676.730000000 |
| Current Price | 118147.820000000 |
| Next Low | 116128.000000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107429.570000000 |
119676.730000000 – 118856.800000000 – 118499.900000000 – 116128.000000000 – 116467.020000000 – 117277.340000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Tweezers Top –