BTC/USDT – 1H – SELLThe combination Bitcoin/Tether (BTC/USDT) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 116128.000000000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 119450.000000000 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Last Engulfing Top’ candle pattern is existing. The chart shows ‘Last Engulfing Top’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 120998.710000000 |
| 2nd High | 120247.800000000 |
| Next High | 119450.000000000 |
| Current Price | 116105.960000000 |
| Next Low | 116128.000000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107429.570000000 |
119450.000000000 – 119273.360000000 – 120247.800000000 – 117103.100000000 – 117301.000000000 – 116128.000000000 — 40.775464553049 – 37.495414191982
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Last Engulfing Top – –