BTC/USDT – 30M – SELL

The pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline downwards

A continuation of the bearish trend downwards to the next support level at is considered certain.

Caution: A possible trend reversal in the direction of the resistance level at 118708.240000000 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 117009.6372 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 118708.240000000 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Down’ chart pattern is existing. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

118708.240000000 – 120247.800000000 – 117950.000000000 – 117301.000000000 – 117550.000000000 – 116128.000000000

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Three Outside Down – Triple top chart pattern –