BTC/USDT – 30M – SELLThe combination Bitcoin/Tether (BTC/USDT) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 115796.230000000 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 118792.000000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 119800.000000000 |
| 2nd High | 119273.360000000 |
| Next High | 118792.000000000 |
| Current Price | 118420.000000000 |
| Next Low | 115796.230000000 |
| 2nd Low | 114908.000000000 |
| 3rd Low | 114723.160000000 |
118792.000000000 – 118481.810000000 – 119273.360000000 – 115796.230000000 – 117358.840000000 – 116950.750000000 — 55.605607830993 – 52.889758847328
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Double bottom retreat down –