BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 115796.230000000 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 118792.000000000 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘RSI fall below 70’ indicator layout is found. The indicator is ‘RSI fall below 70’. which is often a bearish chart signal. The currency pair could go down.
Furthermore a ‘Tweezers Top’ candle chart pattern is detected. The chart shows ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 119800.000000000 |
| 2nd High | 119273.360000000 |
| Next High | 118792.000000000 |
| Current Price | 118362.000000000 |
| Next Low | 115796.230000000 |
| 2nd Low | 114723.160000000 |
| 3rd Low | 107429.570000000 |
118792.000000000 – 119273.360000000 – 119800.000000000 – 115796.230000000 – 116950.750000000 – 117427.500000000 — 57.136774954632 – 55.023941949855
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Tweezers Top – –