BTC/USDT – 1H – SELLThe combination Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at is certain.
Caution: A possible counter-trend in the direction of the resistance line at 119800.000000000 could happen.
In the case of a trade, always set appropriate stop-loss settings.
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 chart scenario. The pair is likely to go down.
Moreover a ‘On Neck’ candlestick chart pattern is detected. The chart forms ‘On Neck’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 120998.710000000 |
| 2nd High | 120247.800000000 |
| Next High | 119800.000000000 |
| Current Price | 117765.740000000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
119800.000000000 – 119450.000000000 – 119273.360000000 – 117427.500000000 – 114723.160000000 – 117103.100000000 — 41.135607772764 – 40.465953721275
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – On Neck – Rising Wedge Chart Pattern –