BTC/USDT – 1H – SELL

Besides a ‘Double top chart pattern’ chart layout is detected. The formation shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to fall.

The combination Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline down.

A bearish descent downwards to the next support at 115796.230000000 is expected.

Caution: A possible change in the direction of the resistance level at 118922.450000000 could occur.
Consider stop-loss settings accordingly.

Besides a ‘RSI fall below 30’ indicator signal is found. The indicator shows ‘RSI fall below 30’. which is often a bearish chart signal. The currency pair could go down.

Besides a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

118922.450000000 – 118792.000000000 – 119273.360000000 – 115796.230000000 – 116950.750000000 – 117427.500000000 — 28.693088675374 – 27.05622353124

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